- DXY is under further downside pressure near 106.00.
- Further weakness could see the 105.00 area retested in the short term.
The US Dollar Index (DXY) falls for the third session in a row and once again challenges the 106.00 zone ahead of the release of US inflation figures.
If the selling bias gathers pace, the dollar risks a deeper pullback to initially the August low near 105.00 (Aug 2). This initial containment zone appears to be reinforced by the 55 day simple moving average today at 105.19.
The constructive short-term stance is expected to remain supported by the 6-month support line today near 104.50.
Furthermore, the broader bullish view on the dollar holds as long as it is above the 200 SMA at 99.93.
DXY day chart
Dollar Index Spot
Panorama | |
---|---|
Last Price Today | 106.01 |
Today’s Daily Change | -0.27 |
Today’s Daily Change % | -0.25 |
Today’s Daily Opening | 106.28 |
Trends | |
---|---|
20 Daily SMA | 106.79 |
50 Daily SMA | 105.38 |
100 Daily SMA | 103.38 |
200 Daily SMA | 99.82 |
levels | |
---|---|
Previous Daily High | 106.41 |
Previous Daily Minimum | 105.97 |
Previous Maximum Weekly | 107.43 |
Previous Weekly Minimum | 105.54 |
Monthly Prior Maximum | 109.29 |
Previous Monthly Minimum | 104.69 |
Daily Fibonacci 38.2% | 106.14 |
Daily Fibonacci 61.8% | 106.24 |
Daily Pivot Point S1 | 106.03 |
Daily Pivot Point S2 | 105.78 |
Daily Pivot Point S3 | 105.59 |
Daily Pivot Point R1 | 106.47 |
Daily Pivot Point R2 | 106.66 |
Daily Pivot Point R3 | 106.91 |
Source: Fx Street
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