US Dollar Index technical analysis: Worst weekly decline since June sends DXY down to the 200-day SMA

  • The US Dollar Index (DXY) is under heavy bearish pressure as the market prints its worst weekly decline since mid-June 2019. 
  • This Friday, the negative sentiment on the Greenback sent the Index down to the critical 200-day simple moving average. 

DXY weekly chart

The US Dollar Index (DXY) had its worst weekly decline since June 2019. However, the Index is still trading above its main SMAs (simple moving averages), suggesting that the bull trend is still in place for now. 

DXY daily chart

The drop in the Greenback this week saw the Index breaking below both the 50 and 100 SMAs. Now it is the 200 SMA which is being put to the test. Next week, it will be interesting to see how the market reacts around this important level. 

DXY four-hour chart

DXY is under heavy bearish pressure below its main SMAs as the market broke below the 97.60 support level. Given the strong bearish momentum, it can be expected that the market can drop to the 97.20 level. Further down lies the 96.70 support. 

Additional key levels

Dollar Index Spot

Today last price 97.37
Today Daily Change -0.22
Today Daily Change % -0.23
Today daily open 97.59
Daily SMA20 98.74
Daily SMA50 98.46
Daily SMA100 97.83
Daily SMA200 97.39
Previous Daily High 98.12
Previous Daily Low 97.49
Previous Weekly High 99.26
Previous Weekly Low 98.19
Previous Monthly High 99.46
Previous Monthly Low 97.99
Daily Fibonacci 38.2% 97.73
Daily Fibonacci 61.8% 97.88
Daily Pivot Point S1 97.35
Daily Pivot Point S2 97.1
Daily Pivot Point S3 96.72
Daily Pivot Point R1 97.98
Daily Pivot Point R2 98.36
Daily Pivot Point R3 98.61



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD under pressure just above 1.1000

Despite easing demand for the greenback, the EUR/USD pair remained subdued, holding just above the 1.1000f figure. Speculative interest waiting for a catalyst.



GBP/USD surges on renewed Brexit hopes

The Sterling beat all of its rivals after Brexit Party’s leader, Nigel Farage, expressed support for Conservatives. Brexit deal coming post-elections?


USD/JPY trims losses, rises back above 109.00

The USD/JPY pair trimmed losses over the last hours amid a recovery of the US dollar and despite the decline in equity prices in Wall Street.


Gold rebounds from multi-month lows, trades around $1,455

After posting its largest weekly percentage drop of the year and erasing more than $50, the troy ounce of the precious metal remained under pressure on Monday with the XAU/USD pair slumping to its lowest level since early August at $1,452.

Gold News

Central bankers link the future to blockchain projects

The race towards the tokenization of sovereign currencies has begun a long time ago, but it finally enjoying its time in the sun. China has announced its intention to create an e-Yuan, and also in Europe, institutions are considering the matter.

Read more