USD Index Price Analysis: The 200-day SMA holds the downside so far

DXY partially sets aside the recent sharp sell-off and regains 106.00.
The 200-day SMA near 105.30 continues to emerge as a tough support.

Pablo Piovano FXStreet

DXY finally regains the smile and retakes the area above the 106.00 barrier after three daily drops in a row on Friday.

There is a solid contention area near 105.30, where the November low and the 200-day SMA converge.

In the meantime, the downside pressure in the index is expected to mitigate somewhat once the weekly high at 107.99 is cleared (November 21). Extra gains from here should meet the 100-day SMA at 109.15 ahead of the 9-month resistance line near 110.00.

While above the 200-day SMA at 105.32, the outlook for the index should remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	106.14
Today Daily Change	51
Today Daily Change %	0.26
Today daily open	105.86

Trends
Daily SMA20	107.69
Daily SMA50	110.34
Daily SMA100	109.26
Daily SMA200	105.72

Levels
Previous Daily High	106.16
Previous Daily Low	105.63
Previous Weekly High	107.27
Previous Weekly Low	105.32
Previous Monthly High	113.95
Previous Monthly Low	109.54
Daily Fibonacci 38.2%	105.83
Daily Fibonacci 61.8%	105.96
Daily Pivot Point S1	105.61
Daily Pivot Point S2	105.36
Daily Pivot Point S3	105.08
Daily Pivot Point R1	106.13
Daily Pivot Point R2	106.41
Daily Pivot Point R3	106.66

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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