Home US Dollar Index Technical Analysis: Correction lower could extend further and test the 200-day SMA near 97.40

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US Dollar Index Technical Analysis: Correction lower could extend further and test the 200-day SMA near 97.40

FX Street

Published date: 30 Oct. 2019 | 11:32

The index continues to correct lower after failing to break above the 97.90 region, where converge the 100-day SMA (97.84) and the Fibo retracement of the 2017-2018 drop (97.87).
Interim support if the continuation of the down move materializes appears at the 10-day SMA at 97.55.
Further south emerges the critical 200-day SMA at 97.43. Below this area, the bearish view is expected to return to the market.

DXY daily chart

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