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US Dollar Index Price Analysis: The 95.50 area offers decent support so far

  • DXY partially reverses Friday’s pullback and approaches 96.00.
  • Recent lows in the mid-95.00s should hold the downside for now.

The recent corrective downside in DXY seems to have met some decent contention in the 95.50 region.

A breach of the 95.50 zone should allow for an immediate test of the 55-day SMA at 95.39. On the other hand, if bulls manage to regain control, an attempt to the YTD high just below the 97.00 barrier (November 24) should not be ruled out.

In the meantime, while above the 4-month support line (off September’s low) around 94.80, the constructive view in DXY remains unchanged. The broader positive stance stays underpinned by the 200-day SMA at 92.99.

DXY daily chart

Dollar Index Spot

Overview
Today last price95.8
Today Daily Change31
Today Daily Change %0.21
Today daily open95.6
 
Trends
Daily SMA2096.19
Daily SMA5095.56
Daily SMA10094.43
Daily SMA20093
 
Levels
Previous Daily High96.11
Previous Daily Low95.57
Previous Weekly High96.39
Previous Weekly Low95.57
Previous Monthly High96.92
Previous Monthly Low95.57
Daily Fibonacci 38.2%95.78
Daily Fibonacci 61.8%95.9
Daily Pivot Point S195.41
Daily Pivot Point S295.22
Daily Pivot Point S394.87
Daily Pivot Point R195.94
Daily Pivot Point R296.29
Daily Pivot Point R396.48

Author

Pablo Piovano

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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