- 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|
|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
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.