US Dollar Index Technical Analysis: Decline should falter around the 200-day SMA in the mid-96.00s

The greenback continues to correct lower following the dovish message at the FOMC meeting on Wednesday.
Further retracements should meet the next relevant support at the 200-day SMA and the multi-month support line in the mid-96.00s. This area of contention is reinforced by recent monthly lows in the 96.50/45 band.
A resumption of the bullish stance should find initial target at the 97.36/43 band, where coincide the 21-day and 55-day SMAs.

Pablo Piovano FXStreet

DXY daily chart

Dollar Index Spot

Overview
Today last price	96.72
Today Daily Change	53
Today Daily Change %	-0.56
Today daily open	97.26

Trends
Daily SMA20	97.4
Daily SMA50	97.51
Daily SMA100	97.11
Daily SMA200	96.62

Levels
Previous Daily High	97.68
Previous Daily Low	97.08
Previous Weekly High	97.59
Previous Weekly Low	96.58
Previous Monthly High	98.38
Previous Monthly Low	97.03
Daily Fibonacci 38.2%	97.31
Daily Fibonacci 61.8%	97.45
Daily Pivot Point S1	97
Daily Pivot Point S2	96.74
Daily Pivot Point S3	96.4
Daily Pivot Point R1	97.6
Daily Pivot Point R2	97.94
Daily Pivot Point R3	98.2

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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