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 |
More By This Author:
Crude Oil Futures: Some Consolidation Emerges On The CardsEUR/USD Price Analysis: Outlook Shifts To Constructive Above 1.0800
EUR/JPY Price Analysis: Upside Momentum Has Further Legs To Go
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