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  • Today’s sharp sell off in the greenback is prompting DXY to recede further from recent YTD tops near 97.20 and instead to focus on the 96.00 neighbourhood.
  • In fact, the continuation of the down move is expected to face contention at 96.04, the 50% Fibo retracement of the 2017-2018 drop. A break of this level should put the 21-day SMA at 95.92 back on the horizon.
  • A resumption of the uptrend faces the immediate hurdle at recent peaks at 97.19, while further upside should meet the next resistance at 97.87, where converge the 61.8% Fibo retracement of the 2017-2018 drop and June 2017 peak.

DXY daily chart

 

 

 

 

 

 

 

 

 

 

 

 

 

Dollar Index Spot

Overview:
       Last Price:  96.37
       Daily change:  -74  pips
       Daily change:  -0.762%
       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