US Dollar Index Price Analysis: Correction lower could test the mid-98.00s


DXY is shedding some ground after reaching fresh yearly peaks in the proximity of 99.20 earlier on Friday.

The current overbought levels in the dollar coupled with the strong rally carry the potential to spark a correction lower to, initially, the November 2019 top at 98.54 in the near-term.

Looking at the broader picture, the constructive perspective on the dollar is seen unaltered as long as the 200-day SMA at 97.76 underpins.

DXY daily chart

Dollar Index Spot

Today last price99.07
Today Daily Change11
Today Daily Change %-0.04
Today daily open99.11


Daily SMA2098.1
Daily SMA5097.59
Daily SMA10097.86
Daily SMA20097.77


Previous Daily High99.11
Previous Daily Low98.85
Previous Weekly High98.71
Previous Weekly Low97.44
Previous Monthly High98.19
Previous Monthly Low96.42
Daily Fibonacci 38.2%99.01
Daily Fibonacci 61.8%98.95
Daily Pivot Point S198.94
Daily Pivot Point S298.76
Daily Pivot Point S398.68
Daily Pivot Point R199.2
Daily Pivot Point R299.28
Daily Pivot Point R399.46