US Dollar Index Price Analysis: Pullback could extend to 93.50

DXY recedes further and breaches the 94.00 support.
There is expected to emerge decent contention in the mid-93.00s.

Pablo Piovano FXStreet

DXY loses the grip further and drops to new multi-day lows in the vicinity of 93.70 on Thursday.

So far, the continuation of this corrective decline could extend further in the near term. That said, the is a decent contention area near 93.50, where is located the pre-FOMC high (September 22). Further south from here comes the 55-day SMA just above 93.00 the figure.

Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 91.76.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.84
Today Daily Change	33
Today Daily Change %	-0.19
Today daily open	94.02

Trends
Daily SMA20	93.78
Daily SMA50	93.16
Daily SMA100	92.43
Daily SMA200	91.75

Levels
Previous Daily High	94.53
Previous Daily Low	94.02
Previous Weekly High	94.45
Previous Weekly Low	93.68
Previous Monthly High	94.51
Previous Monthly Low	91.95
Daily Fibonacci 38.2%	94.21
Daily Fibonacci 61.8%	94.33
Daily Pivot Point S1	93.85
Daily Pivot Point S2	93.67
Daily Pivot Point S3	93.33
Daily Pivot Point R1	94.36
Daily Pivot Point R2	94.71
Daily Pivot Point R3	94.88

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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