US Dollar Index (DXY) Price Analysis: Decent Support Emerges at the 55-Day SMA

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  • The DXY attempts a moderate recovery, although it is still trading below 104.00.
  • The 55-day SMA around 103.50 keeps the DXY away from a dip.

The US dollar index (DXY) records a decent bounce off Monday’s multi-week lows at 103.50.

Despite the daily bounce, the index remains under pressure and appears to still be supported by recent lows near 103.50, an area coincident with the interim 55-day SMA. Below the latter, the dollar could fall back to the weekly low of 102.58 (February 14).

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Meanwhile, below the 200-day SMA at 106.63, the outlook for the greenback is expected to remain negative.

DXY daily chart

Spot Dollar Index

Last price today 103.92
daily change today 55
today’s daily variation 0.29
today’s daily opening 103.62
daily SMA20 104.5
daily SMA50 103.47
daily SMA100 104.55
daily SMA200 106.84
previous daily high 104.39
previous daily low 103.48
Previous Weekly High 105.89
previous weekly low 104.05
Previous Monthly High 105.36
Previous monthly minimum 100.81
Fibonacci daily 38.2 103.83
Fibonacci 61.8% daily 104.05
Daily Pivot Point S1 103.27
Daily Pivot Point S2 102.92
Daily Pivot Point S3 102.36
Daily Pivot Point R1 104.18
Daily Pivot Point R2 104.74
Daily Pivot Point R3 105.09
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Source: Fx Street

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