- 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).
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
Dollar Index Spot
|Last Price Today||110.81|
|Today’s Daily Change||0.63|
|Today’s Daily Change %||0.57|
|Today’s Daily Opening||110.18|
|20 Daily SMA||111.03|
|50 Daily SMA||108.97|
|100 Daily SMA||106.86|
|200 Daily SMA||102.7|
|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