DXY Price Analysis: Losses expected to accelerate below 109.00

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  • DXY regains some poise after three daily pullbacks.
  • The nine-month support line appears around 109.00.

The Dollar Index (DXY) buying interest picks up a bit and briefly tests the area beyond 110.00 on Wednesday.

Further dollar weakness should not be ruled out despite the current bullish attempt. That said, the loss of the 9-month support near 109.00 carries the potential to magnify the decline and open the door for a further short-term pullback.

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In the longer term, DXY is expected to maintain its constructive stance as long as it is above the 200 SMA at 104.66.

DXY day chart

dollar spot index

Overview
last price today 109.86
daily change today 62
Today’s daily variation 0.21
Daily opening today 109.63
Trends
daily SMA20 111.49
daily SMA50 111.37
daily SMA100 109.18
daily SMA200 104.85
levels
Previous daily high 110.62
Previous Daily Low 109.36
Previous Weekly High 113.15
Previous Weekly Low 110.42
Previous Monthly High 113.95
Previous Monthly Low 109.54
Daily Fibonacci of 38.2%. 109.84
Daily Fibonacci of 61.8% 110.14
Daily Pivot Point S1 109.12
Daily Pivot Point S2 108.61
Daily Pivot Point S3 107.86
Daily Pivot Point R1 110.38
Daily Pivot Point R2 111.13
Daily Pivot Point R3 111.64

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Source: Fx Street

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