US Dollar Technical Analysis: DXY bears bracing for the drop to 95.70 target

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is in a bull trend above 200-day simple moving average (SMA).
Bears have momentarily retaken the 50 SMA.
As anticipated yesterday, the bears took control of the market and brought DXY almost to the 96.00 bear target.

DXY 4-hour chart

The market rejected the 200 SMA and it is now testing the 50 SMA.

DXY 30-minute chart

Bears broke below 96.30 support and the 200 SMA suggesting bearish momentum.
When 96.00 figure gets broken to the downside, the market should continue its decline towards 95.70 bear target.
Resistance to the upside is seen at the 95.70 and 96.50 level.

Additional key levels

Dollar Index Spot

Overview:
    Today Last Price: 96.14
    Today Daily change: -19 pips
    Today Daily change %: -0.20%
    Today Daily Open: 96.33
Trends:
    Daily SMA20: 96.14
    Daily SMA50: 96.62
    Daily SMA100: 96.09
    Daily SMA200: 95.09
Levels:
    Previous Daily High: 96.49
    Previous Daily Low: 96.21
    Previous Weekly High: 96.4
    Previous Weekly Low: 95.47
    Previous Monthly High: 97.71
    Previous Monthly Low: 96.06
    Daily Fibonacci 38.2%: 96.32
    Daily Fibonacci 61.8%: 96.38
    Daily Pivot Point S1: 96.2
    Daily Pivot Point S2: 96.06
    Daily Pivot Point S3: 95.92
    Daily Pivot Point R1: 96.48
    Daily Pivot Point R2: 96.62
    Daily Pivot Point R3: 96.76

Author

Flavio Tosti

Independent Analyst

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