US Dollar Index Price Analysis: Further pullbacks could visit the 200-day SMA

DXY stays under pressure below the 92.00 yardstick.
There is scope for a deeper move to the 91.50 area.

Pablo Piovano FXStreet

DXY remains unable to gather serious upside traction so far on Wednesday and remains on the defensive in the sub-92.00 zone.

The better tone in the risk-associated universe as investors digested the FOMC event coupled with muted activity in US yields sponsored a leg lower in the dollar.

If the selling impulse picks up further pace, then another visit to the critical 200-day SMA, today at 91.51, should not be ruled out.

In the meantime, and looking at the broader scenario, a sustainable breakout of the 200-day SMA, today at 91.50, should shift the outlook for the buck to positive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	91.71
Today Daily Change	22
Today Daily Change %	-0.01
Today daily open	91.72

Trends
Daily SMA20	90.57
Daily SMA50	90.65
Daily SMA100	91.11
Daily SMA200	91.5

Levels
Previous Daily High	92.14
Previous Daily Low	91.65
Previous Weekly High	92.4
Previous Weekly Low	90.35
Previous Monthly High	91.44
Previous Monthly Low	89.54
Daily Fibonacci 38.2%	91.83
Daily Fibonacci 61.8%	91.95
Daily Pivot Point S1	91.53
Daily Pivot Point S2	91.35
Daily Pivot Point S3	91.04
Daily Pivot Point R1	92.02
Daily Pivot Point R2	92.32
Daily Pivot Point R3	92.51

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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