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

Overview
Today last price 97.37
Today Daily Change -0.22
Today Daily Change % -0.23
Today daily open 97.59
 
Trends
Daily SMA20 98.74
Daily SMA50 98.46
Daily SMA100 97.83
Daily SMA200 97.39
 
Levels
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

 

 

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