US Dollar Index Price Analysis: DXY fades bounce off 100-SMA

DXY struggles to extend the previous day’s rebound, eases from intraday top.
Sustained trading below previous support from mid-November, weekly descending trend line keep sellers hopeful.
100-SMA, firmer Momentum tests further downside towards five-week-old support line.

Anil Panchal FXStreet

US Dollar Index (DXY) seesaws around 96.00, following the first daily positive in five, during early Thursday. The greenback gauge fails to stretch the previous day's bounce off 100-SMA.

Adding to the bearish bias is the DXY’s sustained trading below the weekly resistance line and the previous support from November 15.

However, a clear downside break of the 100-SMA level of 95.80 becomes necessary for the quote to recall the bears targeting an upward sloping trend line from late October near 95.20.

Meanwhile, a one-week-old falling trend line surrounding 96.30 guards immediate upside of the US Dollar Index, a break of which will direct bull to the support-turned-resistance line near 96.85.

It’s worth noting that the recently flashed multi-month high near 96.95 and the 97.00 threshold act as extra filters to the north.

DXY: Four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	96.02
Today Daily Change	-0.01
Today Daily Change %	-0.01%
Today daily open	96.03

Trends
Daily SMA20	95.56
Daily SMA50	94.57
Daily SMA100	93.64
Daily SMA200	92.51

Levels
Previous Daily High	96.14
Previous Daily Low	95.67
Previous Weekly High	96.94
Previous Weekly Low	95.99
Previous Monthly High	96.94
Previous Monthly Low	93.82
Daily Fibonacci 38.2%	95.96
Daily Fibonacci 61.8%	95.85
Daily Pivot Point S1	95.76
Daily Pivot Point S2	95.48
Daily Pivot Point S3	95.29
Daily Pivot Point R1	96.22
Daily Pivot Point R2	96.41
Daily Pivot Point R3	96.69

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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