US Dollar Index Price Analysis: Potential test of the 96.00 area

DXY remains under pressure amidst prevailing risk-on trends.
Further declines now expose the Fibo level in the 96.00 zone.

Pablo Piovano FXStreet

DXY is alternating gains with losses in the 96.60 region on Tuesday, always against the backdrop of solid risk appetite trends favouring the risk complex.

The continuation of the decline is predicted to put the Fibo level (of the 2017-2018 drop) just above 96.00 to the test ahead of a potential leg lower to June’s low at 95.71.

The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 98.24.

DXY daily chart

Dollar Index Spot

Overview
Today last price	96.53
Today Daily Change	24
Today Daily Change %	-0.03
Today daily open	96.56

Trends
Daily SMA20	97.08
Daily SMA50	98.01
Daily SMA100	98.65
Daily SMA200	98.26

Levels
Previous Daily High	96.68
Previous Daily Low	96.27
Previous Weekly High	97.18
Previous Weekly Low	96.23
Previous Monthly High	98.24
Previous Monthly Low	95.72
Daily Fibonacci 38.2%	96.43
Daily Fibonacci 61.8%	96.53
Daily Pivot Point S1	96.32
Daily Pivot Point S2	96.09
Daily Pivot Point S3	95.91
Daily Pivot Point R1	96.74
Daily Pivot Point R2	96.92
Daily Pivot Point R3	97.15

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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