Home US Dollar Index Technical Analysis: DXY drops sharply on Federal Reserve dovishness
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US Dollar Index Technical Analysis: DXY drops sharply on Federal Reserve dovishness

DXY daily chart  

  • The US Dollar Index (DXY) is in a bull trend above 200-day simple moving average (SMA).
  • FOMC keeps the target for fed funds rate unchanged at 2.25% – 2.5% range.  

DXY 4-hour chart

  • DXY is trading below its main SMAs suggesting a bearish bias in the medium-term.  

DXY 30-minute chart

  • DXY is trading below the main SMAs and 95.00 is likely the next destination for DXY bears.
  • Resistance is seen at 95.70.  

Additional key levels

Dollar Index Spot

Overview:
       Today Last Price:  95.43
   
       Today Daily change %:  -0.42%
       Today Daily Open:  95.83
Trends:
       Daily SMA20:  96
       Daily SMA50:  96.54
       Daily SMA100:  96.13
       Daily SMA200:  95.24
Levels:
       Previous Daily High:  95.87
       Previous Daily Low:  95.62
       Previous Weekly High:  96.68
       Previous Weekly Low:  95.75
       Previous Monthly High:  97.71
       Previous Monthly Low:  96.06
       Daily Fibonacci 38.2%:  95.77
       Daily Fibonacci 61.8%:  95.72
       Daily Pivot Point S1:  95.68
       Daily Pivot Point S2:  95.52
       Daily Pivot Point S3:  95.43
       Daily Pivot Point R1:  95.93
       Daily Pivot Point R2:  96.02
       Daily Pivot Point R3:  96.18

 

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