US Dollar Index Price Analysis: Selling interest alleviated above 93.20


  • DXY struggles for direction near 92.30 although it remains depressed.
  • Further downside remains likely with the next target near 91.70.

DXY continues to battle to reverse six consecutive sessions with losses around the 6-month support line in the 92.30/20 band at the end of the week.

The broad outlook for the dollar remains fragile and thus extra losses are still on the cards. That said, the next target of note emerges at the monthly low at 92.13 (November 9) ahead of the 2020 low at 91.74 (September 1).

In the near-term, the selling pressure is seen mitigating somewhat above weekly highs at 93.20 (November 11). Further out, as long as DXY trades below the 200-day SMA, today at 96.21, the negative view is forecast to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price 92.3
Today Daily Change 21
Today Daily Change % -0.01
Today daily open 92.31
 
Trends
Daily SMA20 93
Daily SMA50 93.32
Daily SMA100 93.68
Daily SMA200 96.25
 
Levels
Previous Daily High 92.72
Previous Daily Low 92.24
Previous Weekly High 93.21
Previous Weekly Low 92.13
Previous Monthly High 94.1
Previous Monthly Low 92.47
Daily Fibonacci 38.2% 92.42
Daily Fibonacci 61.8% 92.54
Daily Pivot Point S1 92.12
Daily Pivot Point S2 91.94
Daily Pivot Point S3 91.64
Daily Pivot Point R1 92.61
Daily Pivot Point R2 92.91
Daily Pivot Point R3 93.09

 

 

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