- DXY reverses Tuesday’s drop to fresh lows near 91.70.
- Further recovery is probable, but solid hurdle awaits near 94.00.
DXY retreated to levels last seen in April 2018 in the 91.75/70 band on Tuesday. The downtick, however, failed to extend further south and sparked a moderate recovery to the 92.00 mark and beyond instead.
That said, the ongoing recovery carries the potential to progress further, although it is expected to run out of steam in the vicinity of the key resistance in the 94.00 neighbourhood. The resumption of the selling bias should prompt DXY to recede to the April 2018 low at 89.23 ahead of the March 2018 low at 88.94.
The offered stance in the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.45.
DXY weekly chart
DOLLAR INDEX SPOT
| OVERVIEW | |
|---|---|
| Today last price | 92.68 |
| Today Daily Change | 51 |
| Today Daily Change % | 0.38 |
| Today daily open | 92.33 |
| TRENDS | |
|---|---|
| Daily SMA20 | 92.96 |
| Daily SMA50 | 94.63 |
| Daily SMA100 | 96.71 |
| Daily SMA200 | 97.49 |
| LEVELS | |
|---|---|
| Previous Daily High | 92.4 |
| Previous Daily Low | 91.74 |
| Previous Weekly High | 93.36 |
| Previous Weekly Low | 92.2 |
| Previous Monthly High | 94 |
| Previous Monthly Low | 92 |
| Daily Fibonacci 38.2% | 92.15 |
| Daily Fibonacci 61.8% | 92 |
| Daily Pivot Point S1 | 91.91 |
| Daily Pivot Point S2 | 91.5 |
| Daily Pivot Point S3 | 91.26 |
| Daily Pivot Point R1 | 92.57 |
| Daily Pivot Point R2 | 92.81 |
| Daily Pivot Point R3 | 93.23 |
Reprinted from fxstreet , the copyrights all reserved by the original author.
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