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US Dollar Index Price Analysis: DXY retreats from 21-DMA but not out of woods

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  • US Dollar Index eases from eight-day top, recently bounced off intraday low.
  • MACD teases bulls, sustained trading beyond 100-DMA also keeps buyers hopeful.
  • Five-week-old descending trend line adds to the upside filters.

US Dollar Index (DXY) pares intraday losses around 95.70, down 0.10% on a day during early Friday.

The greenback gauge has repeatedly failed to cross the 21-DMA so far during the week but the latest MACD conditions tease buyers as the quote remains firmer above the immediate support around 95.50, comprising 38.2% Fibonacci retracement (Fibo.) of October-November upside.

That said, DXY buyers are up for crossing the immediate DMA hurdle surrounding 95.80. However, the quote’s further advances need validation from a descending trend line from December 15, near 96.00.

If the US Dollar Index remains firmer above 96.00, it will witness multiple stops around 96.45-50 before challenging the November 2021 peak of 96.94.

Meanwhile, a clear downside break of 95.50 nearby support will direct the quote towards the 50% Fibo. level of 95.11.

However, the 100-DMA and 61.8% Fibonacci retracement level, respectively around 94.85 and 94.70, will challenge the DXY bears afterward.

DXY: Daily chart

US Dollar Index Price Analysis: DXY retreats from 21-DMA but not out of woods

Trend: Pullback expected

Additional important levels

Overview
Today last price 95.68
Today Daily Change -0.10
Today Daily Change % -0.10%
Today daily open 95.78
Trends
Daily SMA20 95.77
Daily SMA50 96.01
Daily SMA100 94.83
Daily SMA200 93.23
Levels
Previous Daily High 95.86
Previous Daily Low 95.42
Previous Weekly High 96.24
Previous Weekly Low 94.63
Previous Monthly High 96.92
Previous Monthly Low 95.57
Daily Fibonacci 38.2% 95.69
Daily Fibonacci 61.8% 95.59
Daily Pivot Point S1 95.51
Daily Pivot Point S2 95.25
Daily Pivot Point S3 95.07
Daily Pivot Point R1 95.96
Daily Pivot Point R2 96.13
Daily Pivot Point R3 96.4

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