US Dollar Index Price Analysis: Next stop at 89.22

DXY regains extra selling pressure near 89.40.
Next on the downside emerges the April 2018 low near 89.20.

Pablo Piovano FXStreet

The index starts the new year on the negative side and extends the drop to fresh lows in the 89.40 region.

The outlook for the dollar appears well into the bearish territory and therefore further losses remain well on the cards. That said, the next support of relevance comes in at 89.22 (April 2018 low).

The downside pressure is expected to mitigate somewhat on a breakout of the 2020-2021 resistance line, today around 91.80.

In the meantime, as long as DXY trades below the 200-day SMA, today at 94.94, the negative view is forecast to prevail.

DXY daily chart

Dollar Index Spot

Overview
Today last price	89.48
Today Daily Change	51
Today Daily Change %	-0.51
Today daily open	89.94

Trends
Daily SMA20	90.37
Daily SMA50	91.66
Daily SMA100	92.46
Daily SMA200	95

Levels
Previous Daily High	89.94
Previous Daily Low	89.94
Previous Weekly High	90.38
Previous Weekly Low	89.52
Previous Monthly High	92.02
Previous Monthly Low	89.52
Daily Fibonacci 38.2%	89.94
Daily Fibonacci 61.8%	89.94
Daily Pivot Point S1	89.94
Daily Pivot Point S2	89.94
Daily Pivot Point S3	89.94
Daily Pivot Point R1	89.94
Daily Pivot Point R2	89.94
Daily Pivot Point R3	89.94

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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