US Dollar Index (DXY) Price Analysis: Slips below 92.00 to refresh 28-month low

US Dollar Index refreshes the multi-month low even as RSI turns oversold.
Support-line of a one-month-old falling channel can trigger a pullback.
21-day EMA, channel’s resistance line keep the buyers away.

Anil Panchal FXStreet

US dollar index (DXY) bears dominate near the lowest since May 2018 while taking offers around 91.77 during the early Tuesday. The greenback gauge keeps extending its south-run while ignoring the oversold conditions of the RSI.

As a result, the US currency index’s bounce off the support line of a falling trend channel since July 31, at 91.74 now, gains more acceptance.

However, the MACD histogram is still flirting with the bears and may drag the quote towards September 2017 bottom close to 91.00 in a case the quote drops below 91.74.

Meanwhile, the August 06 low around 92.50 can entertain the short-term buyers during the pullback moves. Though, a 21-day EMA level of 93.06 and resistance line of the mentioned channel close to 93.15 can restrict the bounce.

It’s worth mentioning that the bulls targeting the previous month’s top near 93.90 are less likely to return unless the DXY closes past-93.15.

DXY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	91.83
Today Daily Change	-0.35
Today Daily Change %	-0.38%
Today daily open	92.18

Trends
Daily SMA20	93.01
Daily SMA50	94.72
Daily SMA100	96.78
Daily SMA200	97.52

Levels
Previous Daily High	92.48
Previous Daily Low	92
Previous Weekly High	93.36
Previous Weekly Low	92.2
Previous Monthly High	94
Previous Monthly Low	92
Daily Fibonacci 38.2%	92.18
Daily Fibonacci 61.8%	92.29
Daily Pivot Point S1	91.96
Daily Pivot Point S2	91.74
Daily Pivot Point S3	91.48
Daily Pivot Point R1	92.43
Daily Pivot Point R2	92.69
Daily Pivot Point R3	92.91

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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