Home US Dollar Index Technical Analysis: Bearish below the resistance line at 96.58

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US Dollar Index Technical Analysis: Bearish below the resistance line at 96.58

FX Street

Published date: 29 Jan. 2019 | 12:27

The greenback remains under pressure so far this week, taking DXY to the area of multi-day lows in the 95.70/60 band.
A deeper pullback is not ruled out while the short-term resistance line, today at 96.58, caps the upside. That said, another test of YTD lows in the 95.00 neighbourhood still remains in the pipeline.
Extra downside should meet support in the 95.30/25 band, where converge a Fibo retracement of the September-December and the 200-day SMA, all ahead of YTD lows near the 95.00 handle.

DXY daily chart

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