US Dollar Index Price Analysis: DXY bears set to test 50-day SMA ar 92.55

DXY edges lower on Monday following the previous session’s downside move.
More downside if price decisively breaks 92.60.
Momentum oscillator holds onto the overbought zone with bearish crossover.

Rekha Chauhan Independent Analyst

US Dollar Index loses momentum in the Asian session on Monday. As of writing, DXY is trading at 92.62, up 0.06% for the day.

DXY daily chart

On the daily chart, after making a high of 93.72 on August 20, DXY slides below 93.00 on August 23. The ascending trendline from the lows of 89.95 acts as defensive for the bulls.

A break below 50-day Simple Moving Average (SMA) at 92.55, would bring more selling opportunities toward the 92.35 horizontal support level.

The Moving Average Convergence Divergence (MACD) indicator holds in the overbought zone. Any downtick in the MACD would intensify the selling toward the low of August 5 at 92.05.

Bears would further be encouraged to test the 91.80 horizontal support level.

Alternatively, If it reverses the direction, then the first upside target is located at the 93.06 horizontal resistance level, followed by the 93.25 horizontal resistance zone.

Next, the market participant would like to aim for the high of 93.48 made on August 23.

DXY additional levels

Dollar Index Spot

Overview
Today last price	92.63
Today Daily Change	-0.05
Today Daily Change %	-0.05
Today daily open	92.68

Trends
Daily SMA20	92.82
Daily SMA50	92.54
Daily SMA100	91.6
Daily SMA200	91.32

Levels
Previous Daily High	93.18
Previous Daily Low	92.63
Previous Weekly High	93.49
Previous Weekly Low	92.63
Previous Monthly High	93.19
Previous Monthly Low	91.78
Daily Fibonacci 38.2%	92.84
Daily Fibonacci 61.8%	92.97
Daily Pivot Point S1	92.48
Daily Pivot Point S2	92.28
Daily Pivot Point S3	91.93
Daily Pivot Point R1	93.03
Daily Pivot Point R2	93.38
Daily Pivot Point R3	93.59

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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