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.

Pablo Piovano FXStreet

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

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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