- DXY drops further and approaches the 98.00 mark.
- A potential deeper retracement to the 97.70 area cannot be ruled out.
DXY can't get a grip and accelerates losses to the 98.15 zone on Thursday.
Considering the dollar's recent price action, a further retracement in DXY now carries the potential to extend to the weekly low at 97.71 (low March 10), where some initial contention is expected to emerge.
The current bullish stance in the index, however, remains supported by the 6-month line, today near 95.90, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.47.
DXY daily chart
Dollar Index Spot
|Today last price||98.31|
|Today Daily Change||35|
|Today Daily Change %||-0.07|
|Today daily open||98.38|
|Previous Daily High||99.08|
|Previous Daily Low||98.3|
|Previous Weekly High||99.41|
|Previous Weekly Low||97.72|
|Previous Monthly High||97.74|
|Previous Monthly Low||95.14|
|Daily Fibonacci 38.2%||98.6|
|Daily Fibonacci 61.8%||98.78|
|Daily Pivot Point S1||98.09|
|Daily Pivot Point S2||97.8|
|Daily Pivot Point S3||97.3|
|Daily Pivot Point R1||98.87|
|Daily Pivot Point R2||99.37|
|Daily Pivot Point R3||99.66|
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