US Dollar Index Price Analysis: Next stop on the downside is at 93.00

DXY rapidly loses momentum and drops to multi-day lows.
The next support of note comes in around the 93.00 yardstick.

Pablo Piovano FXStreet

Following another failure at the tough 6-month resistance line in the 93.80/90 band, DXY sparks a correction lower to the 93.20 region so far, or new 4-day lows.

A deeper pullback now threatens to drag the dollar to the area of recent contention in the 93.00 neighbourhood. Further south emerges the mid-September lows in the 92.70 region.

While below the 200-day SMA, today at 96.82, the negative view on the dollar is expected to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.24
Today Daily Change	54
Today Daily Change %	-0.50
Today daily open	93.71

Trends
Daily SMA20	93.77
Daily SMA50	93.31
Daily SMA100	94.66
Daily SMA200	96.85

Levels
Previous Daily High	93.88
Previous Daily Low	93.53
Previous Weekly High	93.91
Previous Weekly Low	93.01
Previous Monthly High	94.74
Previous Monthly Low	91.74
Daily Fibonacci 38.2%	93.67
Daily Fibonacci 61.8%	93.75
Daily Pivot Point S1	93.54
Daily Pivot Point S2	93.36
Daily Pivot Point S3	93.19
Daily Pivot Point R1	93.88
Daily Pivot Point R2	94.05
Daily Pivot Point R3	94.22

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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