US Dollar Index Price Analysis: Immediately to the downside comes 95.88

DXY adds to Wednesday’s losses and approaches 96.00.
Initial contention is seen at the YTD low at 95.88.

Pablo Piovano FXStreet

DXY extends the 2-day knee-jerk to the 96.00 neighbourhood on Thursday.

In case the selling pressure regains conviction, then the next support of significance is located at the so far 2021 low at 95.88 (January 5) followed by the December’s low at 95.57 (December 31).

In the meantime, while above the 4-month support line (off September’s low) around 95.00, further gains in DXY are likely. Looking at the broader picture, the longer-term positive stance remains unchanged above the 200-day SMA at 93.04.

DXY daily chart

Dollar Index Spot

Overview
Today last price	96.16
Today Daily Change	29
Today Daily Change %	0.00
Today daily open	96.16

Trends
Daily SMA20	96.19
Daily SMA50	95.71
Daily SMA100	94.53
Daily SMA200	93.05

Levels
Previous Daily High	96.33
Previous Daily Low	95.89
Previous Weekly High	96.39
Previous Weekly Low	95.57
Previous Monthly High	96.92
Previous Monthly Low	95.57
Daily Fibonacci 38.2%	96.06
Daily Fibonacci 61.8%	96.16
Daily Pivot Point S1	95.92
Daily Pivot Point S2	95.68
Daily Pivot Point S3	95.48
Daily Pivot Point R1	96.37
Daily Pivot Point R2	96.57
Daily Pivot Point R3	96.81

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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