USD Index Price Analysis: Immediately To The Upside Comes 103.70
- DXY makes a U-turn and regains the 103.50 region.
- The next up barrier comes at the August high at 103.68.
DXY manages to regain composure and reverse three consecutive sessions of losses on Tuesday.
The index seems to be attempting a consolidative range following the recent multi-week rally. Against that, the resumption of the uptrend should retarget the August peak of 103.68 (August 18) ahead of the May top of 104.69 (May 31) and the 2023 peak of 105.88 (March 8).
It is worth noting that this area of monthly highs appears reinforced by the proximity of the key 200-day SMA, today at 103.16.
Looking at the broader picture, a convincing breakout of the 200-day SMA should shift the outlook for the index to a more constructive one.
DXY daily chart
(Click on image to enlarge)
Dollar Index Spot
| OVERVIEW | |
|---|---|
| Today last price | 103.47 |
| Today Daily Change | 50 |
| Today Daily Change % | 0.13 |
| Today daily open | 103.34 |
| TRENDS | |
|---|---|
| Daily SMA20 | 102.48 |
| Daily SMA50 | 102.19 |
| Daily SMA100 | 102.37 |
| Daily SMA200 | 103.14 |
| LEVELS | |
|---|---|
| Previous Daily High | 103.5 |
| Previous Daily Low | 103.14 |
| Previous Weekly High | 103.68 |
| Previous Weekly Low | 102.77 |
| Previous Monthly High | 103.57 |
| Previous Monthly Low | 99.57 |
| Daily Fibonacci 38.2% | 103.28 |
| Daily Fibonacci 61.8% | 103.36 |
| Daily Pivot Point S1 | 103.15 |
| Daily Pivot Point S2 | 102.97 |
| Daily Pivot Point S3 | 102.79 |
| Daily Pivot Point R1 | 103.51 |
| Daily Pivot Point R2 | 103.68 |
| Daily Pivot Point R3 | 103.87 |
More By This Author:
USD Index Extends The Decline And Challenges 103.00
EUR/USD Price Analysis: Still Scope For Extra Losses
USD Index Price Analysis: The 200-Day SMA Near 103.20 Holds The Downside
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
Comments
