US Dollar Index Price Analysis: Next support comes in at 89.50

DXY remains within a narrow range around the 90.00 level.
Immediate contention emerges at the 89.50 region.

Pablo Piovano FXStreet

DXY treads water around the 90.00 neighbourhood at the beginning of the week.

Last week’s rebound to the vicinity of 90.50 lacked follow through and sparked a subsequent pullback to the current levels. If bulls fail to regain the 90.50 area in the near-term, then DXY could be exposed to a deeper retracement to, initially, last week’s lows in the mid-89.00s.

Further south comes in the YTD low at 89.20 (January 6).

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.67 the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.05
Today Daily Change	16
Today Daily Change %	-0.01
Today daily open	90.06

Trends
Daily SMA20	90.33
Daily SMA50	91.29
Daily SMA100	91.08
Daily SMA200	91.69

Levels
Previous Daily High	90.44
Previous Daily Low	89.98
Previous Weekly High	90.44
Previous Weekly Low	89.54
Previous Monthly High	93.33
Previous Monthly Low	90.42
Daily Fibonacci 38.2%	90.27
Daily Fibonacci 61.8%	90.16
Daily Pivot Point S1	89.88
Daily Pivot Point S2	89.7
Daily Pivot Point S3	89.42
Daily Pivot Point R1	90.34
Daily Pivot Point R2	90.62
Daily Pivot Point R3	90.8

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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