US Dollar Index Price Analysis: Scope for further retracement near term

DXY accelerates losses and retests the 93.50 zone on Tuesday.
There is an interim support at the 93.18, the 55-day SMA.

Pablo Piovano FXStreet

DXY extends the downside for the fifth consecutive session on Tuesday and visits again the 93.50 region, where some initial contention turned up so far.

In case the selling impulse gathers further steam, the 55-day SMA at 93.18 should offer some minor contention ahead of a deeper pullback to the 93.00 neighbourhood (low September 23). Further south comes the 100-day SMA, today at 92.57.

Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 91.82.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.59
Today Daily Change	44
Today Daily Change %	-0.39
Today daily open	93.96

Trends
Daily SMA20	93.9
Daily SMA50	93.24
Daily SMA100	92.55
Daily SMA200	91.81

Levels
Previous Daily High	94.17
Previous Daily Low	93.87
Previous Weekly High	94.56
Previous Weekly Low	93.76
Previous Monthly High	94.51
Previous Monthly Low	91.95
Daily Fibonacci 38.2%	93.98
Daily Fibonacci 61.8%	94.06
Daily Pivot Point S1	93.83
Daily Pivot Point S2	93.7
Daily Pivot Point S3	93.53
Daily Pivot Point R1	94.13
Daily Pivot Point R2	94.3
Daily Pivot Point R3	94.44

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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