US Dollar Index Price Analysis: Rising odds for a move to 91.70

DXY briefly breaks below the 92.00 key support on Wednesday.
Further south emerges the YTD lows near 91.70 (September 1).

Pablo Piovano FXStreet

DXY seems to have met initial support in the 91.95/90 band, where also sits a Fibo retracement of the 2017-2018 drop.

The short-term outlook for the index stays bearish, leaving the door open for deeper retracements. That said, the next target of relevance comes in at the 2020 low at 91.74 (September 1) ahead of May 2018 lows near 91.80.

In the near-term, the selling pressure is seen mitigating somewhat above weekly highs at 93.20 (November 11). However, as long as DXY trades below the 200-day SMA, today at 96.10, the negative view is forecast to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	92.13
Today Daily Change	26
Today Daily Change %	-0.02
Today daily open	92.15

Trends
Daily SMA20	92.91
Daily SMA50	93.27
Daily SMA100	93.54
Daily SMA200	96.15

Levels
Previous Daily High	92.56
Previous Daily Low	92.13
Previous Weekly High	92.84
Previous Weekly Low	92.2
Previous Monthly High	94.1
Previous Monthly Low	92.47
Daily Fibonacci 38.2%	92.29
Daily Fibonacci 61.8%	92.4
Daily Pivot Point S1	92
Daily Pivot Point S2	91.84
Daily Pivot Point S3	91.56
Daily Pivot Point R1	92.43
Daily Pivot Point R2	92.71
Daily Pivot Point R3	92.87

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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