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US Dollar Index (DXY) Price Analysis: Initial support at the 55-day SMA

  • The DXY intensifies the decline and breaks 104.00 on Monday.
  • The 55-day SMA near 103.50 should offer some initial support.

The US dollar index (DXY) extends strong bearish momentum and breaks below the 104.00 support to record fresh multi-week lows.

Should sellers push harder, then the index should face temporary support at the 55-day SMA at 103.51 ahead of the weekly low at 102.58 (Feb 14).

Meanwhile, below the 200-day SMA at 106.62, the outlook for the greenback will remain negative.

DXY daily chart

Spot Dollar Index

Last price today 103.87
daily change today 95
today’s daily variation -0.74
today’s daily opening 104.64
daily SMA20 104.49
daily SMA50 103.47
daily SMA100 104.61
daily SMA200 106.84
previous daily high 105.36
previous daily low 104.05
Previous Weekly High 105.89
previous weekly low 104.05
Previous Monthly High 105.36
Previous monthly minimum 100.81
Fibonacci daily 38.2 104.55
Fibonacci 61.8% daily 104.86
Daily Pivot Point S1 104
Daily Pivot Point S2 103.37
Daily Pivot Point S3 102.69
Daily Pivot Point R1 105.32
Daily Pivot Point R2 105.99
Daily Pivot Point R3 106.63

Source: Fx Street

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