US Dollar Index Price Analysis: Extra downside remains in the pipeline

DXY briefly tested the sub-93.00 area on Thursday.
Further south emerges the YTD lows in the mid-92.00s.

Pablo Piovano FXStreet

DXY managed to rebound from the area below the 93.00 yardstick on Thursday, or fresh weekly lows. The bullish attempt, however, lost traction in the 93.40/45 band.

Solid resistance is located in the 94.00 region so far and the inability of the index to surpass this area – ideally in the short-term – should open the door to the resumption of the bearish trend.

The offered stance in the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.80.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.25
Today Daily Change	25
Today Daily Change %	0.00
Today daily open	93.25

Trends
Daily SMA20	93.9
Daily SMA50	95.7
Daily SMA100	97.6
Daily SMA200	97.84

Levels
Previous Daily High	93.43
Previous Daily Low	92.92
Previous Weekly High	94
Previous Weekly Low	92.5
Previous Monthly High	97.64
Previous Monthly Low	92.55
Daily Fibonacci 38.2%	93.12
Daily Fibonacci 61.8%	93.24
Daily Pivot Point S1	92.97
Daily Pivot Point S2	92.69
Daily Pivot Point S3	92.46
Daily Pivot Point R1	93.48
Daily Pivot Point R2	93.71
Daily Pivot Point R3	93.98

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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