USD Index Price Analysis: Next on the downside comes 109.50


  • DXY extends the pessimism at the beginning of the week.
  • The next support of note comes at the 109.50 region.

DXY drops to multi-day lows and revisits the 110.30 zone amidst further improvement in the sentiment around the risk complex on Monday.

Further weakness in the dollar appears likely for the time being. Against that, the index is expected to face initial contention at the October low at 109.53 (October 27) prior to the 9-month support line near 108.90. The latter appears reinforced by the proximity of the 100-day SMA. Above this region, the dollar’s short-term stance should remain positive.

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 104.52.

DXY daily chart

Dollar Index Spot

Overview
Today last price 110.47
Today Daily Change 93
Today Daily Change % -0.76
Today daily open 111.32
 
Trends
Daily SMA20 111.79
Daily SMA50 111.36
Daily SMA100 109.07
Daily SMA200 104.7
 
Levels
Previous Daily High 111.4
Previous Daily Low 111.21
Previous Weekly High 113.15
Previous Weekly Low 110.42
Previous Monthly High 113.95
Previous Monthly Low 109.54
Daily Fibonacci 38.2% 111.33
Daily Fibonacci 61.8% 111.28
Daily Pivot Point S1 111.23
Daily Pivot Point S2 111.13
Daily Pivot Point S3 111.04
Daily Pivot Point R1 111.41
Daily Pivot Point R2 111.49
Daily Pivot Point R3 111.59

 

 

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