US Dollar Index Price Forecast: DXY ends the week in red below the 100.00 mark

US Dollar Index Price Forecast: DXY ends the week in red below the 100.00 mark

  • US dollar index (DXY) lost some steam this week below the 50 SMA on the daily chart.
  • The level to beat for bears is the 98.90 support.  

  

DXY weekly chart

 The US Dollar Index (DXY) is trading in an uptrend above its weekly simple moving averages (SMAs) as the market printed a negative week and is above to close below the 100.00 mark.   DXY

DXY daily chart

DXY is starting the month of May mixed but still in a bear leg below the 50 SMA on the daily chart. Next week the market will try to break below the 98.90 support level to open the gate to further losses towards the 98.25 and 97.50 levels on the medium-term. Meanwhile bullish attempts might find resistance near 99.30, 99.60 and the 100.00 mark.  

Additional key levels

Dollar Index Spot

Overview
Today last price 99.03
Today Daily Change 0.01
Today Daily Change % 0.01
Today daily open 99.02

 

Trends
Daily SMA20 99.9
Daily SMA50 99.28
Daily SMA100 98.54
Daily SMA200 98.34

 

Levels
Previous Daily High 99.73
Previous Daily Low 98.81
Previous Weekly High 100.87
Previous Weekly Low 99.65
Previous Monthly High 100.93
Previous Monthly Low 98.81
Daily Fibonacci 38.2% 99.16
Daily Fibonacci 61.8% 99.38
Daily Pivot Point S1 98.64
Daily Pivot Point S2 98.27
Daily Pivot Point S3 97.72
Daily Pivot Point R1 99.56
Daily Pivot Point R2 100.11
Daily Pivot Point R3 100.48

 

 

 


Source: FxStreet

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