US Dollar Index Technical Analysis: Greenback sells-off as DXY bears erase weekly gains
- The US Dollar Index (DXY) is trading in a bull trend above the 200-day simple moving average.
- DXY rejected the 97.00 level and closed in the red. Bulls will try to support the market but they need to regain 97.00 or else a deeper pullback is to be expected. The RSI is pointing downwards while the Stochastic is in overbought territories. The MACD is slowing down slightly.
- All suggesting that a continuation of the bearish pullback is more likely with targets at 95.65 multi-month resistance and then 95.24 July 13 high.
DXY daily chart
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Trend: Bullish
Resistance 1: 97.20 current 2018 high
Resistance 2: 97.87 June 20, 2017
Resistance 3: 98.00 figure
Support 1: 97.00 former 2018 high
Support 2: 96.41 August 20 high
Support 3: 96.00 figure
Support 4: 95.65 multi-month resistance (key level)
Support 5: 95.52 August 6 high
Support 6: 95.24 July 13 high
Additional key levels at a glance:
Dollar Index Spot
Overview:
Last Price: 96.29
Daily change: -82 pips
Daily change: -0.844%
Daily Open: 97.11
Trends:
Daily SMA20: 95.92
Daily SMA50: 95.3
Daily SMA100: 95.15
Daily SMA200: 93.1
Levels:
Daily High: 97.2
Daily Low: 96.87
Weekly High: 96.86
Weekly Low: 95.47
Monthly High: 97.2
Monthly Low: 94.79
Daily Fibonacci 38.2%: 97.07
Daily Fibonacci 61.8%: 97
Daily Pivot Point S1: 96.92
Daily Pivot Point S2: 96.73
Daily Pivot Point S3: 96.59
Daily Pivot Point R1: 97.25
Daily Pivot Point R2: 97.39
Daily Pivot Point R3: 97.58