US Dollar Index Price Analysis: Next to the downside is 92.55

DXY has resumed the downside following the 2-day bullish attempt.
Yearly lows in the mid-92.00s are expected to be re-visited soon.

Pablo Piovano FXStreet

The rebound in DXY from levels last seen in May 2018 in the 92.50 region appears to have met a tough hurdle in the 94.00 neighbourhood (Monday).

Sellers look to have regained the upper hand so far on Tuesday, forcing the dollar to resume the downside in the very near-term. That said, the next support of note is now at the 2020 lows near 92.50 (July 31). A deeper pullback should meet the Fibo level (of the 2017-2018 drop) at 91.92 ahead of the May 2018 low at 91.80.

The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 97.98.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.41
Today Daily Change	34
Today Daily Change %	-0.12
Today daily open	93.52

Trends
Daily SMA20	95.19
Daily SMA50	96.46
Daily SMA100	98.24
Daily SMA200	98.01

Levels
Previous Daily High	94
Previous Daily Low	93.36
Previous Weekly High	94.37
Previous Weekly Low	92.55
Previous Monthly High	97.64
Previous Monthly Low	92.55
Daily Fibonacci 38.2%	93.75
Daily Fibonacci 61.8%	93.6
Daily Pivot Point S1	93.26
Daily Pivot Point S2	92.99
Daily Pivot Point S3	92.62
Daily Pivot Point R1	93.89
Daily Pivot Point R2	94.26
Daily Pivot Point R3	94.53

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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