US Dollar Index technical analysis: String of dismal data weighs on DXY


  • The ISM Non-Manufacturing Index came below expectations at 52.6 in September vs. 55 forecast.
  • The level to beat for sellers is the 98.63 level. 
 
 

DXY daily chart

 
The US Dollar Index (DXY) is an uptrend above its main daily simple moving averages (DSMAs). This Thursday, the US ISM Non-Manufacturing PMI dropped to 52.6 in September vs. 55 expected. This adds to the already negative sentiment on DXY which started on Tuesday after the ISM Manufacturing PMI came in at ten-year low at 47.8 vs. 50.1 forecast while on Wednesday, the ADP, the forerunner of the Nonfarm Payrolls scheduled on Friday, disappointed the market with only 135k vs. 140k expected in September. 

DXY four-hour chart

 
DXY is retracing down as the market is challenging the 100 SMA. A break of 98.63 (current daily low) can expose the 98.30 level. 

DXY 30-minute chart

 
 
DXY is under pressure below the main SMAs, suggesting a bearish bias in the short term. Immediate resistance is seen at the 98.85 and 99.00 price levels.
 

Additional key levels 

Dollar Index Spot

Overview
Today last price 98.71
Today Daily Change -0.32
Today Daily Change % -0.32
Today daily open 99.03
 
Trends
Daily SMA20 98.64
Daily SMA50 98.32
Daily SMA100 97.76
Daily SMA200 97.25
 
Levels
Previous Daily High 99.42
Previous Daily Low 98.96
Previous Weekly High 99.31
Previous Weekly Low 98.29
Previous Monthly High 99.46
Previous Monthly Low 97.99
Daily Fibonacci 38.2% 99.14
Daily Fibonacci 61.8% 99.24
Daily Pivot Point S1 98.85
Daily Pivot Point S2 98.68
Daily Pivot Point S3 98.39
Daily Pivot Point R1 99.31
Daily Pivot Point R2 99.6
Daily Pivot Point R3 99.77

 

 

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