US Dollar Index Price Analysis: Gains limited by 94.70 so far

DXY remains on the defensive and navigates lows near 93.60.
The 55-day SMA emerges as a minor contention near 93.40.

Pablo Piovano FXStreet

DXY broke below the 94.00 support and opened the door to further decline in the short-term horizon.

That said, there is a minor support at 93.46, where sits the 55-day SMA. A deeper move could see the more relevant contention area around 92.70 retested.

While below the 200-day SMA, today at 97.03, the negative view on the dollar is expected to prevail.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.77
Today Daily Change	30
Today Daily Change %	-0.07
Today daily open	93.84

Trends
Daily SMA20	93.5
Daily SMA50	93.3
Daily SMA100	95.36
Daily SMA200	97.06

Levels
Previous Daily High	94.19
Previous Daily Low	93.67
Previous Weekly High	94.74
Previous Weekly Low	92.75
Previous Monthly High	94.74
Previous Monthly Low	91.74
Daily Fibonacci 38.2%	93.87
Daily Fibonacci 61.8%	93.99
Daily Pivot Point S1	93.61
Daily Pivot Point S2	93.37
Daily Pivot Point S3	93.08
Daily Pivot Point R1	94.14
Daily Pivot Point R2	94.43
Daily Pivot Point R3	94.66

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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