USD Index Price Analysis: Decent Support Emerges Around 101.50
- The index rebounds after dropping to multi-month lows at 101.50.
- The dollar’s negative outlook remains unchanged below 106.50.
DXY manages to regain some composure and bounces off earlier 8-month lows in the mid-101.00s on Thursday.
Despite the rebound, the index remains well under pressure and a sustainable breach of the 101.50 level should accelerate losses to, initially, the May 2022 low around 101.30 (May 30) prior to the psychological 100.00 yardstick.
On the upside, the so-far weekly high at 102.89 (January 18) is expected to offer minor resistance.
In the meantime, while below the 200-day SMA at 106.47, the index is expected to risk extra losses.
DXY daily chart
(Click on image to enlarge)
Dollar Index Spot
| OVERVIEW | |
|---|---|
| Today last price | 101.82 |
| Today Daily Change | 37 |
| Today Daily Change % | 0.18 |
| Today daily open | 101.64 |
| TRENDS | |
|---|---|
| Daily SMA20 | 103.01 |
| Daily SMA50 | 104.17 |
| Daily SMA100 | 107.26 |
| Daily SMA200 | 106.76 |
| LEVELS | |
|---|---|
| Previous Daily High | 102.12 |
| Previous Daily Low | 101.57 |
| Previous Weekly High | 102.9 |
| Previous Weekly Low | 101.51 |
| Previous Monthly High | 106.02 |
| Previous Monthly Low | 103.39 |
| Daily Fibonacci 38.2% | 101.78 |
| Daily Fibonacci 61.8% | 101.91 |
| Daily Pivot Point S1 | 101.43 |
| Daily Pivot Point S2 | 101.22 |
| Daily Pivot Point S3 | 100.87 |
| Daily Pivot Point R1 | 101.98 |
| Daily Pivot Point R2 | 102.33 |
| Daily Pivot Point R3 | 102.54 |
More By This Author:
USD Index Remains Under Pressure Near 102.00, Focus On PMIs
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EUR/JPY Price Analysis: Next On The Upside Comes The 143.00 Region
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