22 Feb 2019
US Dollar Index Technical Analysis: Further consolidation could spark extra declines
- The index is now prolonging the sideline pattern in the 96.60 region, looking to add to Thursday’s gains, which in turn reverted five consecutive sessions with losses.
- The inability to gather some serious upside traction and the continuation of the consolidative mood should open the door for a potential resumption of the leg lower.
- In this scenario, immediate contention emerges in the .96.40/30 band, where converge weekly lows and the 100-, 55- and 21-day SMAs, all ahead of the more relevant support zone in the 200-day SMA, today at 95.59.
DXY daily chart
Dollar Index Spot
Overview:
Today Last Price: 96.55
Today Daily change: 14 pips
Today Daily change %: -0.06%
Today Daily Open: 96.61
Trends:
Daily SMA20: 96.34
Daily SMA50: 96.36
Daily SMA100: 96.41
Daily SMA200: 95.58
Levels:
Previous Daily High: 96.67
Previous Daily Low: 96.36
Previous Weekly High: 97.37
Previous Weekly Low: 96.62
Previous Monthly High: 96.96
Previous Monthly Low: 95.03
Daily Fibonacci 38.2%: 96.55
Daily Fibonacci 61.8%: 96.48
Daily Pivot Point S1: 96.42
Daily Pivot Point S2: 96.24
Daily Pivot Point S3: 96.11
Daily Pivot Point R1: 96.73
Daily Pivot Point R2: 96.86
Daily Pivot Point R3: 97.04