US Dollar Index technical analysis: DXY retraces down to the 99.10 level

 

 

DXY (US Dollar Index) is trading a bull trend above its main daily simple moving averages (DSMAs). The market almost hit the 2019 high at 99.38 before retreating slightly. Earlier in the New York session, the Nondefense Capital Goods Orders Excluding Aircraft (August) in the United States, came in below expectations at -0.2 vs. 0% while the Core Personal Consumption Expenditure YoY came in line with expectations at 1.8% in August. 

 

DXY is pulling back down before hitting the 2019 high at 99.38. The market is challenging the 99.10 support. A break below 99.10 can expose 98.85 on the way down.

 

 

DXY is challenging the 99.10 support and the 100 SMA, suggesting a neutral bias in the short term. Immediate resistance is seen at the 99.20/30 resistance zone.