US Dollar Index Price Analysis: Next on the downside comes 105.80

DXY remains under pressure in the lower end of the range.
Further weakness could see the post-FOMC top at 105.80 retested.

Pablo Piovano FXStreet

DXY extends the bearish mood and revisits the low-106.00s, where some initial support appears to have turned up so far on Monday.

Considering the ongoing price action, a break below the 106.00 zone should not be ruled out in the short-term horizon. Against that, the index carries the potential to drop further and retest the post-FOMC peak at 105.78 (June 15).

Despite the ongoing downside, the near-term outlook for DXY is seen constructive while above the 5-month support line near 103.60.

In addition, the broader bullish view remains in place while above the 200-day SMA at 99.18.

DXY daily chart

Dollar Index Spot

Overview
Today last price	106.47
Today Daily Change	59
Today Daily Change %	-0.07
Today daily open	106.54

Trends
Daily SMA20	106.57
Daily SMA50	104.56
Daily SMA100	102.55
Daily SMA200	99.14

Levels
Previous Daily High	107.36
Previous Daily Low	106.11
Previous Weekly High	107.96
Previous Weekly Low	106.11
Previous Monthly High	105.79
Previous Monthly Low	101.64
Daily Fibonacci 38.2%	106.59
Daily Fibonacci 61.8%	106.88
Daily Pivot Point S1	105.99
Daily Pivot Point S2	105.43
Daily Pivot Point S3	104.74
Daily Pivot Point R1	107.23
Daily Pivot Point R2	107.92
Daily Pivot Point R3	108.47

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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