USD Index Price Analysis: Downside Pressure Alleviate Above 102.50

  • DXY adds to the promising start of the week and revisits 101.60.
  • Next on the upside comes the monthly high near 102.50.

DXY extends the upside bias seen on Monday and reclaims the 101.50/60 band, or 2-day highs, on Tuesday.

A more serious bullish attempt should clear the monthly high at 102.40 (May 2) to mitigate the downside pressure and allow for a potential advance to the provisional 55- and 100-day SMAs at 102.86 and 103.00, respectively.

Looking at the broader picture, while below the 200-day SMA, today at 105.91, 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 101.51
Today Daily Change 22
Today Daily Change % 0.12
Today daily open 101.39
TRENDS
Daily SMA20 101.64
Daily SMA50 102.74
Daily SMA100 103.04
Daily SMA200 106.01
LEVELS
Previous Daily High 101.42
Previous Daily Low 101.04
Previous Weekly High 102.4
Previous Weekly Low 101.03
Previous Monthly High 103.06
Previous Monthly Low 100.79
Daily Fibonacci 38.2% 101.27
Daily Fibonacci 61.8% 101.18
Daily Pivot Point S1 101.15
Daily Pivot Point S2 100.91
Daily Pivot Point S3 100.77
Daily Pivot Point R1 101.53
Daily Pivot Point R2 101.66
Daily Pivot Point R3 101.9

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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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