USD Index Price Analysis: Extra Losses Look Likely Below 104.00

  • DXY manages to regain some composure following Tuesday’s sell-off.
  • Losses are expected to accelerate below the monthly low of 103.98.

DXY attempts a mild recovery to the 104.30/40 band after bottoming out just below the 104.00 support earlier in the session on Wednesday.

The breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.60 prior to the weekly low of 102.96 (August 30).

In the meantime, while above the key 200-day SMA, today at 103.60, the outlook for the index is expected to remain constructive.
 

DXY daily chart

(Click on image to enlarge)


Dollar Index Spot

OVERVIEW
Today last price 104.34
Today Daily Change 41
Today Daily Change % 0.26
Today daily open 104.07
TRENDS
Daily SMA20 105.95
Daily SMA50 105.86
Daily SMA100 104.16
Daily SMA200 103.61
LEVELS
Previous Daily High 105.73
Previous Daily Low 103.99
Previous Weekly High 106.01
Previous Weekly Low 104.85
Previous Monthly High 107.35
Previous Monthly Low 105.35
Daily Fibonacci 38.2% 104.65
Daily Fibonacci 61.8% 105.07
Daily Pivot Point S1 103.46
Daily Pivot Point S2 102.85
Daily Pivot Point S3 101.72
Daily Pivot Point R1 105.21
Daily Pivot Point R2 106.34
Daily Pivot Point R3 106.95

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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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