US Dollar Index Technical Analysis: The recent breakdown of the consolidation range opens the door for a visit to 94.80

The greenback remains under pressure after breaking below the multi-month sideline theme between 95.80 and 97.70 earlier in the week.
The probability of further downside thus remains in place, with the immediate target at the 94.80 region, where converge the critical 200-day SMA and October lows.
In case the selling impetus picks up extra pace, the 38.2% Fibo retracement of the 2017-2018 drop at 94.20 should come next ahead of September lows in the 93.70 zone.

Pablo Piovano FXStreet

DXY daily chart

Dollar Index Spot

Overview:
    Today Last Price: 95.33
    Today Daily change: -21 pips
    Today Daily change %: -0.220%
    Today Daily Open: 95.54
Trends:
    Previous Daily SMA20: 96.5
    Previous Daily SMA50: 96.7
    Previous Daily SMA100: 96
    Previous Daily SMA200: 94.84
Levels:
    Previous Daily High: 95.62
    Previous Daily Low: 95.03
    Previous Weekly High: 96.96
    Previous Weekly Low: 95.82
    Previous Monthly High: 97.71
    Previous Monthly Low: 96.06
    Previous Daily Fibonacci 38.2%: 95.39
    Previous Daily Fibonacci 61.8%: 95.26
    Previous Daily Pivot Point S1: 95.17
    Previous Daily Pivot Point S2: 94.81
    Previous Daily Pivot Point S3: 94.58
    Previous Daily Pivot Point R1: 95.76
    Previous Daily Pivot Point R2: 95.99
    Previous Daily Pivot Point R3: 96.35

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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