US Dollar Index Technical Analysis: DXY on track to register its worst daily decline in 2.5-months


  • DXY starts December with a high volatility bear breakout.
  • The 97.70 level seems to be on the bears’ radar in the medium term.

DXY daily chart

 
DXY (US Dollar Index) is trading in a bull trend above the 200-day simple moving averages (DMA). However, this Monday, the greenback is on track to record its worst daily decline in the last 2.5 months. 
  

DXY four-hour chart

 
DXY had a strong bearish breakout rejecting the 98.50 level. The market is challenging the 200 SMA on the four-hour chart while below the 98.00 handle. The bears seem to have taken control and a dive down to the 97.70 level seems to be on the cards. If this level gets broken to the downside, investors will be looking for a potential drop towards the 97.20 support level.     
 

DXY 30-minute chart

 
The greenback spiked down below its main SMAs, suggesting a bearish momentum in the near term. Resistance can be expected near the 98.00 and 98.20 levels.
 

Additional key levels

Dollar Index Spot

Overview
Today last price 97.93
Today Daily Change -0.35
Today Daily Change % -0.36
Today daily open 98.28
 
Trends
Daily SMA20 98.12
Daily SMA50 98.22
Daily SMA100 98.13
Daily SMA200 97.64
 
Levels
Previous Daily High 98.54
Previous Daily Low 98.22
Previous Weekly High 98.54
Previous Weekly Low 98.17
Previous Monthly High 98.54
Previous Monthly Low 97.16
Daily Fibonacci 38.2% 98.34
Daily Fibonacci 61.8% 98.42
Daily Pivot Point S1 98.15
Daily Pivot Point S2 98.03
Daily Pivot Point S3 97.83
Daily Pivot Point R1 98.47
Daily Pivot Point R2 98.67
Daily Pivot Point R3 98.79

 

 

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