- DXY stays depressed near two-week low, marked earlier in Asia.
- Momentum recovers but remains weak, suggests further downside on the trend line breakdown.
- 100-SMA, a fortnight-old horizontal support zone test short-term sellers.
- Bulls need to cross 92.00 to retake controls.
US dollar index (DXY) fades early Asian bounce off two-week low while easing to 91.42 amid the initial Thursday. However, post-Fed breakdown of an ascending trend line from March 03 directs the bears to battle key horizontal support and 100-SMA by the press time.
Given the RSI uptick from oversold conditions, the greenback bears are waiting for a major push to the south to break the 91.40-32 area comprising multiple levels marked since March 02 and 100-SMA.
While sustained trading below 91.32 will eye 200-SMA level of 91.00, any further weakness should conquer the 61.8% Fibonacci retracement of February 25 to March 09 upside, at 90.75, to recall the DXY bears.
On the contrary, the corrective pullback may dwindle around 91.70, a break of which will eye to cross the previous support line and 23.6% Fibonacci retracement around 91.85.
Even if the greenback buyers rise past-91.85, a clear rise beyond the 92.00 threshold becomes necessary for the bulls to mark dominance and refresh the monthly high above 92.50 during any further upside.
DXY four-hour chart
Additional important levels
|Today last price||91.46|
|Today Daily Change||0.05|
|Today Daily Change %||0.05%|
|Today daily open||91.41|
|Previous Daily High||92.01|
|Previous Daily Low||91.37|
|Previous Weekly High||92.5|
|Previous Weekly Low||91.36|
|Previous Monthly High||91.6|
|Previous Monthly Low||89.68|
|Daily Fibonacci 38.2%||91.61|
|Daily Fibonacci 61.8%||91.76|
|Daily Pivot Point S1||91.19|
|Daily Pivot Point S2||90.96|
|Daily Pivot Point S3||90.56|
|Daily Pivot Point R1||91.82|
|Daily Pivot Point R2||92.23|
|Daily Pivot Point R3||92.45|
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