US Dollar Index Price Analysis: Extra losses could extend to the 93.80 zone

DXY flirts with the 100-day SMA in the 94.60 region on Friday.
The next contention of note comes at the 93.80 area.

Pablo Piovano FXStreet

The greenback's selloff continues unabated, dragging DXY down to fresh 2-month lows in the vicinity of 94.60, at the end of the week.

If the downside pressure accelerates, then the next point of contention should emerge around 93.80, when the Federal Reserve announced at its meeting the start of QE tapering. If this level is cleared, the next support is seen at October’s low at 93.27 (October 28 2021) before the critical 200-day SMA, today seen at 93.12.

Looking at the broader picture, the longer-term positive stance remains unchanged whilst above the 200-day SMA.

DXY daily chart

Dollar Index Spot

Overview
Today last price	94.79
Today Daily Change	26
Today Daily Change %	-0.09
Today daily open	94.88

Trends
Daily SMA20	95.99
Daily SMA50	95.9
Daily SMA100	94.68
Daily SMA200	93.14

Levels
Previous Daily High	95.02
Previous Daily Low	94.65
Previous Weekly High	96.46
Previous Weekly Low	95.71
Previous Monthly High	96.92
Previous Monthly Low	95.57
Daily Fibonacci 38.2%	94.79
Daily Fibonacci 61.8%	94.88
Daily Pivot Point S1	94.68
Daily Pivot Point S2	94.48
Daily Pivot Point S3	94.31
Daily Pivot Point R1	95.05
Daily Pivot Point R2	95.22
Daily Pivot Point R3	95.42

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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