USD Index Price Analysis: Losses Could Accelerate Below 102.00

  • DXY extends the rebound to 103.00 and above.
  • Further downside likely on a breach of 102.00.

DXY adds to Thursday’s gains and reclaims the area beyond 103.00 the figure at the end of the week.                                        

Despite the ongoing rebound, the index remains under pressure. That said, there is the palpable probability that a deeper pullback could drag DXY to the area of lows seen in April and May around 101.00 once the June low of 101.92 (June 22) is cleared. Dow from here emerges the 2023 low around 100.80 recorded on April 14.

Looking at the broader picture, while below the 200-day SMA at 105.10 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 102.88
Today Daily Change 79
Today Daily Change % 0.47
Today daily open 102.4
TRENDS
Daily SMA20 103.37
Daily SMA50 102.66
Daily SMA100 103.08
Daily SMA200 104.84
LEVELS
Previous Daily High 102.47
Previous Daily Low 101.92
Previous Weekly High 103.76
Previous Weekly Low 102.01
Previous Monthly High 104.7
Previous Monthly Low 101.03
Daily Fibonacci 38.2% 102.26
Daily Fibonacci 61.8% 102.13
Daily Pivot Point S1 102.06
Daily Pivot Point S2 101.71
Daily Pivot Point S3 101.51
Daily Pivot Point R1 102.61
Daily Pivot Point R2 102.81
Daily Pivot Point R3 103.16

More By This Author:

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USD Index Price Analysis: A Drop To 101.00 Appears In Store
EUR/GBP Picks Up Pace And Climbs To 3-Week Highs Past 0.8600

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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