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US Dollar Index Price Analysis: A Fall Towards 104.40 Emerges On The Horizon

  • DXY extends weekly retracement below 105.00.
  • Further south is the weekly low near 104.40.

He DXY has been losing ground for the last three sessions and has opened the door to additional short-term losses.

Should the corrective decline pick up further, the DXY could extend the decline to initially the weekly low of 104.42 (September 11). A sustained pullback below this latest level could see the index embark on a possible test of the critical 200-day SMA, today at 103.03.

As long as it remains above the 200-day SMA, the outlook for the DXY will remain constructive.

DXY Daily Chart

Dollar Index Spot

Overview
Latest price today 104.96
Today Daily variation 39
Today’s daily variation -0.11
Today’s daily opening 105.08
Trends
daily SMA20 104.36
daily SMA50 102.84
SMA100 daily 102.89
SMA200 daily 103.03
Levels
Previous daily high 105.36
Previous daily low 105.02
Previous weekly high 105.44
Previous weekly low 104.42
Previous Monthly High 104.44
Previous monthly low 101.74
Daily Fibonacci 38.2 105.15
Fibonacci 61.8% daily 105.23
Daily Pivot Point S1 104.95
Daily Pivot Point S2 104.82
Daily Pivot Point S3 104.62
Daily Pivot Point R1 105.28
Daily Pivot Point R2 105.49
Daily Pivot Point R3 105.62

Source: Fx Street

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