- DXY has resumed the downside following the 2-day bullish attempt.
- Yearly lows in the mid-92.00s are expected to be re-visited soon.
The rebound in DXY from levels last seen in May 2018 in the 92.50 region appears to have met a tough hurdle in the 94.00 neighbourhood (Monday).
Sellers look to have regained the upper hand so far on Tuesday, forcing the dollar to resume the downside in the very near-term. That said, the next support of note is now at the 2020 lows near 92.50 (July 31). A deeper pullback should meet the Fibo level (of the 2017-2018 drop) at 91.92 ahead of the May 2018 low at 91.80.
The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 97.98.
DXY daily chart
DOLLAR INDEX SPOT
| OVERVIEW | |
|---|---|
| Today last price | 93.41 |
| Today Daily Change | 34 |
| Today Daily Change % | -0.12 |
| Today daily open | 93.52 |
| TRENDS | |
|---|---|
| Daily SMA20 | 95.19 |
| Daily SMA50 | 96.46 |
| Daily SMA100 | 98.24 |
| Daily SMA200 | 98.01 |
| LEVELS | |
|---|---|
| Previous Daily High | 94 |
| Previous Daily Low | 93.36 |
| Previous Weekly High | 94.37 |
| Previous Weekly Low | 92.55 |
| Previous Monthly High | 97.64 |
| Previous Monthly Low | 92.55 |
| Daily Fibonacci 38.2% | 93.75 |
| Daily Fibonacci 61.8% | 93.6 |
| Daily Pivot Point S1 | 93.26 |
| Daily Pivot Point S2 | 92.99 |
| Daily Pivot Point S3 | 92.62 |
| Daily Pivot Point R1 | 93.89 |
| Daily Pivot Point R2 | 94.26 |
| Daily Pivot Point R3 | 94.53 |
Reprinted from fxstreet , the copyrights all reserved by the original author.
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