USD Index Price Analysis: A Drop Below 101.00 Remains Likely
- DXY regains some buying interest and attempts a decent bounce.
- Next on the downside appears the 101.00 region ahead of YTD lows.
DXY reverses three consecutive sessions with losses and rebounds from daily lows near 101.20 on Tuesday.
The recent choppy performance in the index seems to have now refocused back on the downside. Against that, DXY could cling to this consolidative theme ahead of a probable drop to the 101.00 zone. The loss of the latter could expose a move to the so-far 2023 lows near 100.80 (April 14).
Looking at the broader picture, while below the 200-day SMA, today at 106.15, the outlook for the index is expected to remain negative.
DXY daily chart
(Click on image to enlarge)
Dollar Index Spot
| OVERVIEW | |
|---|---|
| Today last price | 101.53 |
| Today Daily Change | 37 |
| Today Daily Change % | 0.19 |
| Today daily open | 101.34 |
| TRENDS | |
|---|---|
| Daily SMA20 | 101.94 |
| Daily SMA50 | 103.27 |
| Daily SMA100 | 103.34 |
| Daily SMA200 | 106.25 |
| LEVELS | |
|---|---|
| Previous Daily High | 101.91 |
| Previous Daily Low | 101.33 |
| Previous Weekly High | 102.23 |
| Previous Weekly Low | 101.53 |
| Previous Monthly High | 105.89 |
| Previous Monthly Low | 101.92 |
| Daily Fibonacci 38.2% | 101.55 |
| Daily Fibonacci 61.8% | 101.69 |
| Daily Pivot Point S1 | 101.15 |
| Daily Pivot Point S2 | 100.95 |
| Daily Pivot Point S3 | 100.57 |
| Daily Pivot Point R1 | 101.73 |
| Daily Pivot Point R2 | 102.11 |
| Daily Pivot Point R3 | 102.31 |
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Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...
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