US Dollar Index Price Analysis: The 2020 lows loom closer


  • DXY comes under extra selling pressure and breaches 93.00.
  • The initial target is at the 2020 low at 92.55 (July 31).

Sellers have regained control of the price action around DXY, dragging it back to the sub-93.00 levels, paving the way at the same time for a deeper retracement.

In fact, further downside is increasingly likely in the current context. Bets for another visit to the YTD low at 92.55 are rising, while further decline should expose the Fibo level (of the 2017-2018 drop) at 91.92 ahead of the May 2018 low at 91.80

The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 97.96.

DXY weekly chart

Dollar Index Spot

Overview
Today last price 93
Today Daily Change 40
Today Daily Change % -0.26
Today daily open 93.24
 
Trends
Daily SMA20 95
Daily SMA50 96.34
Daily SMA100 98.17
Daily SMA200 97.99
 
Levels
Previous Daily High 93.84
Previous Daily Low 93.23
Previous Weekly High 94.37
Previous Weekly Low 92.55
Previous Monthly High 97.64
Previous Monthly Low 92.55
Daily Fibonacci 38.2% 93.46
Daily Fibonacci 61.8% 93.6
Daily Pivot Point S1 93.04
Daily Pivot Point S2 92.83
Daily Pivot Point S3 92.43
Daily Pivot Point R1 93.64
Daily Pivot Point R2 94.04
Daily Pivot Point R3 94.25

 

 

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