DXY Price Analysis: Solid containment appears around 110.00…for now

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  • DXY manages to recover somewhat for now after testing 110.00.
  • The loss of 110.00 will expose a possible decline to 109.35.

The US Dollar Index (DXY) rises after two consecutive daily lows and rebounds from fresh lows near the 110.00 support on Wednesday.

Despite the ongoing bounce, further weakness should not be ruled out yet. That said, the break of the 110.00 support should open the door for a likely visit to the weekly low of 109.35 (Sep 20).

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Prospects for additional dollar gains should not change as long as the index trades above the 7-month support line near 107.40.

In the longer term, DXY is expected to maintain its constructive stance as long as it is above the 200 SMA at 102.67.

DXY day chart

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Dollar Index Spot

Panorama
Last Price Today 110.81
Today’s Daily Change 0.63
Today’s Daily Change % 0.57
Today’s Daily Opening 110.18
Trends
20 Daily SMA 111.03
50 Daily SMA 108.97
100 Daily SMA 106.86
200 Daily SMA 102.7
levels
Previous Daily High 111.89
Previous Daily Minimum 110.05
Previous Maximum Weekly 114.78
Previous Weekly Minimum 111.57
Monthly Prior Maximum 114.78
Previous Monthly Minimum 107.67
Daily Fibonacci 38.2% 110.75
Daily Fibonacci 61.8% 111.19
Daily Pivot Point S1 109.53
Daily Pivot Point S2 108.87
Daily Pivot Point S3 107.7
Daily Pivot Point R1 111.36
Daily Pivot Point R2 112.54
Daily Pivot Point R3 113.2

Source: Fx Street

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