US Dollar Index price analysis: DXY trading near 97.40 level, under pressure below the 200 DMA

DXY is continuing the slow and gradual decline started at the start of the week.
A drop to the 97.20 level seems virtually inevitable.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in a weak uptrend. However, the market is below the 200-day simple moving average (DMA), suggesting that the index is weakening considerably.

DXY four-hour chart

DXY is grinding lower while trading below its main SMAs. A drop to the 97.20 support level seems almost inevitable as bulls seem to have given up for the time being.

DXY 30-minute chart

The greenback is under selling pressure below the main SMAs. Resistance can be expected near the 97.70 and 98.00 levels in the short term.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.41
Today Daily Change	-0.21
Today Daily Change %	-0.22
Today daily open	97.62

Trends
Daily SMA20	98.11
Daily SMA50	98.17
Daily SMA100	98.15
Daily SMA200	97.66

Levels
Previous Daily High	97.79
Previous Daily Low	97.41
Previous Weekly High	98.54
Previous Weekly Low	98.17
Previous Monthly High	98.54
Previous Monthly Low	97.16
Daily Fibonacci 38.2%	97.56
Daily Fibonacci 61.8%	97.64
Daily Pivot Point S1	97.42
Daily Pivot Point S2	97.23
Daily Pivot Point S3	97.04
Daily Pivot Point R1	97.8
Daily Pivot Point R2	97.99
Daily Pivot Point R3	98.18

Author

Flavio Tosti

Independent Analyst

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