US Dollar Index Price Analysis: Further downside targets 90.00 (and below)

DXY loses the grip further and approaches the 90.00 level.
Immediately to the downside comes in the 2021 low at 89.20.

Pablo Piovano FXStreet

The selling momentum in DXY extends into the Thursday’s session and drags the dollar to the vicinity of the key support at 90.00 the figure.

The inability of USD-bulls to push further north of recent tops in the 91.00 region prompted sellers to return to the market and now the focus of attention shifted to the continuation of the downtrend.

That said, a breach of the 90.00 yardstick should not surprise anyone in the short-term horizon. Below this psychological level is located the 2021 lows around 89.20 ahead of the March 2018 low at 88.94.

The ongoing rebound is seen as corrective only and in the longer run, as long as DXY trades below the 200-day SMA, today at 94.32, the negative view is expected to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.18
Today Daily Change	31
Today Daily Change %	-0.32
Today daily open	90.47

Trends
Daily SMA20	90.14
Daily SMA50	90.87
Daily SMA100	92.13
Daily SMA200	94.39

Levels
Previous Daily High	90.7
Previous Daily Low	90.28
Previous Weekly High	90.78
Previous Weekly Low	89.92
Previous Monthly High	92.02
Previous Monthly Low	89.52
Daily Fibonacci 38.2%	90.44
Daily Fibonacci 61.8%	90.54
Daily Pivot Point S1	90.26
Daily Pivot Point S2	90.06
Daily Pivot Point S3	89.84
Daily Pivot Point R1	90.69
Daily Pivot Point R2	90.9
Daily Pivot Point R3	91.11

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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