US Dollar Index Price Analysis: Extra downside looks likely

The index remains well under pressure near 90.00.
Losses are seen accelerating on a breach of 90.00.

Pablo Piovano FXStreet

DXY fades Monday’s modest uptick and keeps hovering around the psychological support near 90.00 for the time being.

A decent breakdown of the 90.00 mark should allow for a move to the February’s low at 89.68. A deeper pullback is expected to put the YTD lows at 89.20 (January 6) back on the radar.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.88, the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.11
Today Daily Change	27
Today Daily Change %	-0.22
Today daily open	90.31

Trends
Daily SMA20	91.07
Daily SMA50	91.72
Daily SMA100	91.06
Daily SMA200	91.9

Levels
Previous Daily High	90.34
Previous Daily Low	90.05
Previous Weekly High	91.44
Previous Weekly Low	90.19
Previous Monthly High	93.33
Previous Monthly Low	90.42
Daily Fibonacci 38.2%	90.23
Daily Fibonacci 61.8%	90.16
Daily Pivot Point S1	90.12
Daily Pivot Point S2	89.94
Daily Pivot Point S3	89.83
Daily Pivot Point R1	90.41
Daily Pivot Point R2	90.52
Daily Pivot Point R3	90.7

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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