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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.

Pablo Piovano FXStreet

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

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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DXY daily chart

Dollar Index Spot

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