US Dollar Index Price Analysis: The 99.00 support emerges on the horizon

The recovery in DXY loses further momentum on Tuesday.
The door is now open for a potential move to the 99.00 area.

Pablo Piovano FXStreet

DXY is losing the grip on Tuesday after three consecutive sessions posting gains, including Monday’s test of the 100.00 neighbourhood.

Sellers now look to have regained the upper hand and therefore the door is open to further weakness in the dollar in the near-term.

That said, the initial support now emerges at the 99.00 neighbourhood, or last week’s lows. This area of contention is reinforced by the 100-day SMA, also at 99.00.

DXY daily chart

Dollar Index Spot

Overview
Today last price	99.46
Today Daily Change	36
Today Daily Change %	-0.33
Today daily open	99.79

Trends
Daily SMA20	99.75
Daily SMA50	100.01
Daily SMA100	98.98
Daily SMA200	98.5

Levels
Previous Daily High	99.98
Previous Daily Low	99.68
Previous Weekly High	100.47
Previous Weekly Low	99
Previous Monthly High	100.93
Previous Monthly Low	98.81
Daily Fibonacci 38.2%	99.86
Daily Fibonacci 61.8%	99.8
Daily Pivot Point S1	99.65
Daily Pivot Point S2	99.52
Daily Pivot Point S3	99.36
Daily Pivot Point R1	99.95
Daily Pivot Point R2	100.11
Daily Pivot Point R3	100.24

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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