US Dollar Index Technical Analysis: The 55-day SMA at 98.36 expected to hold the downside

DXY has exacerbated the downside after breaching the key support at 99.00 the figure, dropping to the area of fresh 2-week lows.
The continuation of the selling impetus carries the potential to spark a deeper pullback to the 55-day SMA at 98.36, where it is expected to lose traction.
However, a break below this area on a sustainable fashion could pave the way for a shift to a bearish view, with initial target at the 100-day SMA, today at 97.79.

Pablo Piovano FXStreet

DXY daily chart

Dollar Index Spot

Overview
Today last price	98.61
Today Daily Change	23
Today Daily Change %	-0.11
Today daily open	98.72

Trends
Daily SMA20	98.8
Daily SMA50	98.42
Daily SMA100	97.82
Daily SMA200	97.32

Levels
Previous Daily High	99.13
Previous Daily Low	98.62
Previous Weekly High	99.67
Previous Weekly Low	98.63
Previous Monthly High	99.46
Previous Monthly Low	97.99
Daily Fibonacci 38.2%	98.81
Daily Fibonacci 61.8%	98.94
Daily Pivot Point S1	98.52
Daily Pivot Point S2	98.31
Daily Pivot Point S3	98.01
Daily Pivot Point R1	99.03
Daily Pivot Point R2	99.33
Daily Pivot Point R3	99.54

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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