DXY Price Analysis: A drop to 200-MA cannot be ruled out

The DXY breaks below the 106.00 support to mark new multi-month lows.
Immediately to the downside now appears the 200-day SMA.

The dollar index (DXY) quickly fades Monday’s rally and returns to focus on dips, breaking below the 106.00 area for the first time since mid-August.

If the selling bias picks up pace, the index could go towards the critical 200-day SMA today at 104.89.

Below this zone, the outlook for the dollar should turn negative.

DXY day chart

Spot Dollar Index

Overview
Last price today	106.1
today’s daily change	115
today’s daily variation	-0.73
today’s daily opening	106.88

Trends
daily SMA20	109.97
daily SMA50	111.14
daily SMA100	109.35
daily SMA200	105.2

levels
previous daily high	107.27
previous daily low	106.48
Previous Weekly High	111.4
previous weekly low	106.28
Previous Monthly High	113.95
Previous monthly minimum	109.54
Fibonacci daily 38.2%	106.97
Daily Fibonacci of 61.8%	106.78
Daily Pivot Point S1	106.48
Daily Pivot Point S2	106.08
Daily Pivot Point S3	105.69
Daily Pivot Point R1	107.28
Daily Pivot Point R2	107.67
Daily Pivot Point R3	108.07

Source: Fx Street

Joshua

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.