Home US Dollar Index Technical Analysis: further downside should meet contention in the 97.90 region

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US Dollar Index Technical Analysis: further downside should meet contention in the 97.90 region

FX Street

Published date: 11 Nov. 2019 | 11:47

The index is correcting lower after clinching fresh multi-week highs at 98.40 on Friday.
Extra losses are likely to find moderate support in the 97.90 region, where coincide a Fibo retracement of the 2017-2018 drop and he 100-day SMA.
In the meantime, the positive view on DXY remains unchanged while above the critical 200-day SMA, today at 97.51.

DXY daily chart

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