USD Index Price Analysis: Another Test Of 100.00 Now Looks Likely
- DXY keeps the bearish note unchanged below 101.00.
- A deeper pullback could revisit the key 100.00 zone.
DXY drops for the third straight session and breaches the key support at 101.00 the figure to print new multi-day lows.
The continuation of the downward bias could initially drag the index to the 100.00 neighbourhood. The loss of the latter should leave the dollar vulnerable to a potential test of the 2023 low near 99.50 (July 14).
Looking at the broader picture, while below the 200-day SMA at 103.83 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 | 100.65 |
| Today Daily Change | 55 |
| Today Daily Change % | -0.38 |
| Today daily open | 101.03 |
| TRENDS | |
|---|---|
| Daily SMA20 | 101.54 |
| Daily SMA50 | 102.62 |
| Daily SMA100 | 102.49 |
| Daily SMA200 | 103.62 |
| LEVELS | |
|---|---|
| Previous Daily High | 101.44 |
| Previous Daily Low | 100.86 |
| Previous Weekly High | 101.19 |
| Previous Weekly Low | 99.57 |
| Previous Monthly High | 104.5 |
| Previous Monthly Low | 101.92 |
| Daily Fibonacci 38.2% | 101.08 |
| Daily Fibonacci 61.8% | 101.22 |
| Daily Pivot Point S1 | 100.78 |
| Daily Pivot Point S2 | 100.54 |
| Daily Pivot Point S3 | 100.21 |
| Daily Pivot Point R1 | 101.36 |
| Daily Pivot Point R2 | 101.68 |
| Daily Pivot Point R3 | 101.93 |
More By This Author:
Natural Gas Futures: Near-Term Rebound LikelyNatural Gas Futures: Scope For A Near-Term Knee-Jerk
Natural Gas Futures: Probable Rebound In Store
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 ...
more
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
