USD Index Price Analysis: Immediately To The Upside Emerges 103.60

  • DXY comes under pressure and disputes the 103.00 support.
  • Bulls now target the July high at 103.57 (July 6).

The upside momentum in the greenback appears somewhat dented and motivates DXY to give away part of the recent gains and recede to the 103.00 region on Wednesday.

In the meantime, the index maintains the bullish view well in place with the immediate hurdle now emerging at the August top of 103.45 (August 14) just ahead of the July peak of 103.57 (July 6).

It is worth noting that this area of monthly highs appears reinforced by the key 200-day SMA, today at 103.23.

Looking at the broader picture, while below the latter, 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 103.12
Today Daily Change 33
Today Daily Change % -0.09
Today daily open 103.21
TRENDS
Daily SMA20 101.98
Daily SMA50 102.21
Daily SMA100 102.33
Daily SMA200 103.22
LEVELS
Previous Daily High 103.28
Previous Daily Low 102.82
Previous Weekly High 102.91
Previous Weekly Low 101.82
Previous Monthly High 103.57
Previous Monthly Low 99.57
Daily Fibonacci 38.2% 103.1
Daily Fibonacci 61.8% 102.99
Daily Pivot Point S1 102.92
Daily Pivot Point S2 102.64
Daily Pivot Point S3 102.46
Daily Pivot Point R1 103.39
Daily Pivot Point R2 103.56
Daily Pivot Point R3 103.85

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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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