US Dollar Index Price Analysis: Initial contention lines up at 90.42

The index remains on the defensive below 91.00.
Next support comes in at the April low near 90.40.

Pablo Piovano FXStreet

The leg lower in the dollar remains well in place on Friday, with DXY extending the corrective downside to the sub-91.00 area ahead of key US data.

The very near-term price action in the index highly hinges on the Payrolls results due later on Friday. Against that, a deeper pullback carries the potential to re-visit the April’s low at 90.40, while an upbeat outcome of the labour report could push DXY to the next up barrier in the 91.40/50 band.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.92, the outlook for the buck is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.81
Today Daily Change	21
Today Daily Change %	-0.07
Today daily open	90.87

Trends
Daily SMA20	91.26
Daily SMA50	91.75
Daily SMA100	91.06
Daily SMA200	91.93

Levels
Previous Daily High	91.38
Previous Daily Low	90.87
Previous Weekly High	91.32
Previous Weekly Low	90.42
Previous Monthly High	93.33
Previous Monthly Low	90.42
Daily Fibonacci 38.2%	91.07
Daily Fibonacci 61.8%	91.19
Daily Pivot Point S1	90.71
Daily Pivot Point S2	90.54
Daily Pivot Point S3	90.2
Daily Pivot Point R1	91.21
Daily Pivot Point R2	91.55
Daily Pivot Point R3	91.71

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.

EUR/USD holds losses near 1.1850 as US, China holidays keep trade muted

EUR/USD opens the week on a softer note, trading near 1.1860 during the Asian session on Monday. Activity is likely to remain muted, with United States markets closed for the Presidents’ Day holiday, while Mainland China is also shut for the week-long Lunar New Year break.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold remains below $5,050 despite Fed rate cut bets, uncertain geopolitical tensions

Gold edges lower after registering over 2% gains in the previous session, trading around $5,030 per troy ounce during the Asian hours on Monday. However, the non-interest-bearing Gold could further gain ground following softer January Consumer Price Index figures, which reinforced expectations that the Federal Reserve could cut rates later this year.

Top Crypto Losers: Dogecoin, Zcash, Bonk – Meme and Privacy coins under pressure

Meme coins such as Dogecoin and Bonk, alongside the privacy coin Zcash (ZEC), are leading the broader market losses over the last 24 hours. DOGE, ZEC, and BONK ended their three consecutive days of recovery with a sudden decline on Sunday, as crucial resistance levels capped the gains. Technically, the altcoins show downside risk, starting the week under pressure.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.