US Dollar Index Price Analysis: Rally falters at the resistance line near 94.70

DXY’s upside momentum struggles near 94.70 on Monday.
Interim support emerges at the Fibo level at 94.20.

Pablo Piovano FXStreet

DXY is eroding part of the recent gains and recedes to the initial support around 94.20 on Monday, where is located a Fibo level (of the 2017-2018 drop).

If sellers keep pushing then there is a minor support at the 55-day SMA, today at 93.59. Further south emerges the 92.75/70 band, where converge the September 10/21 lows).

In spite of the current bounce, the bearish view on DXY is seen unchanged while below the 200-day SMA, today at 97.09.

DXY daily chart

Dollar Index Spot

Overview
Today last price	94.23
Today Daily Change	44
Today Daily Change %	-0.37
Today daily open	94.58

Trends
Daily SMA20	93.26
Daily SMA50	93.38
Daily SMA100	95.54
Daily SMA200	97.11

Levels
Previous Daily High	94.74
Previous Daily Low	94.19
Previous Weekly High	94.74
Previous Weekly Low	92.75
Previous Monthly High	94
Previous Monthly Low	92
Daily Fibonacci 38.2%	94.53
Daily Fibonacci 61.8%	94.4
Daily Pivot Point S1	94.26
Daily Pivot Point S2	93.95
Daily Pivot Point S3	93.71
Daily Pivot Point R1	94.82
Daily Pivot Point R2	95.06
Daily Pivot Point R3	95.38

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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