US Dollar Index Price Analysis: Interim top at 110.80?

DXY corrects lower and drops to multi-session lows.
The dollar could have charted a near-term top near 110.80.

Pablo Piovano FXStreet

DXY trades on the defensive for the second session in a row and extends the recent breakdown of the 110.00 mark.

The short-term bullish view in the dollar, however, remains well in place for the time being and so far bolstered by the 7-month support line just below 106.00.

Further retracement in the short-term horizon could leave the recent 20-year high near 110.80 (September 7) as an interim peak. The surpass of this area could open the door to the weekly highs at 111.90 (June 6 2002) and 113.35 (May 24 2002).

Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 101.26.

DXY daily chart

Dollar Index Spot

Overview
Today last price	109.41
Today Daily Change	54
Today Daily Change %	-0.15
Today daily open	109.57

Trends
Daily SMA20	108.23
Daily SMA50	107.23
Daily SMA100	105.2
Daily SMA200	101.16

Levels
Previous Daily High	110.79
Previous Daily Low	109.54
Previous Weekly High	110
Previous Weekly Low	108.27
Previous Monthly High	109.48
Previous Monthly Low	104.64
Daily Fibonacci 38.2%	110.02
Daily Fibonacci 61.8%	110.31
Daily Pivot Point S1	109.14
Daily Pivot Point S2	108.71
Daily Pivot Point S3	107.89
Daily Pivot Point R1	110.39
Daily Pivot Point R2	111.21
Daily Pivot Point R3	111.64

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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