US Dollar Index Price Analysis: Solid support aligns at 90.00

The weekly downside in DXY meets support around 90.20.
A breach of this level should open the door to 89.20.

Pablo Piovano FXStreet

The weekly decline in DXY decline appears to have met quite decent contention in the low-90.00s for the time being. This zone is also reinforced by the 2020-2021 support line, currently near 90.30.

A sustainable breach of this area should open the door to a probable visit to the weekly lows around 90.00 (January 22) in the short-term. Below this psychological level is located the 2021 lows around 89.20 ahead of the March 2018 low at 88.94.

In the meantime, occasional bouts of upside pressure in the dollar are seen as corrective only and in the longer run, as long as DXY trades below the 200-day SMA (93.60), the bearish stance is expected to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.59
Today Daily Change	27
Today Daily Change %	0.21
Today daily open	90.4

Trends
Daily SMA20	90.65
Daily SMA50	90.42
Daily SMA100	91.7
Daily SMA200	93.65

Levels
Previous Daily High	90.47
Previous Daily Low	90.27
Previous Weekly High	91.6
Previous Weekly Low	90.5
Previous Monthly High	90.95
Previous Monthly Low	89.21
Daily Fibonacci 38.2%	90.35
Daily Fibonacci 61.8%	90.39
Daily Pivot Point S1	90.29
Daily Pivot Point S2	90.17
Daily Pivot Point S3	90.08
Daily Pivot Point R1	90.5
Daily Pivot Point R2	90.59
Daily Pivot Point R3	90.7

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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