USD Index Price Analysis: Near-Term Consolidation On The Cards

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  • DXY extends the weekly consolidative mood around 103.00.
  • The resumption of the buying interest could challenge 103.50.

DXY alternates gains with losses amidst the weekly range-bound theme around the 103.00 zone on Wednesday.

While further consolidation seems probable in the very near term, the continuation of the uptrend in place since mid-June could challenge the weekly high at 103.54 (June 30) prior to the May high at 104.69 (May 31), which appears reinforced by the 200-day SMA.

Looking at the broader picture, while below the 200-day SMA at 104.74, 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
Today Daily Change 35
Today Daily Change % -0.11
Today daily open 103.11
TRENDS
Daily SMA20 102.92
Daily SMA50 102.85
Daily SMA100 103.04
Daily SMA200 104.46
LEVELS
Previous Daily High 103.11
Previous Daily Low 102.88
Previous Weekly High 103.55
Previous Weekly Low 102.32
Previous Monthly High 104.5
Previous Monthly Low 101.92
Daily Fibonacci 38.2% 103.03
Daily Fibonacci 61.8% 102.97
Daily Pivot Point S1 102.95
Daily Pivot Point S2 102.8
Daily Pivot Point S3 102.72
Daily Pivot Point R1 103.19
Daily Pivot Point R2 103.27
Daily Pivot Point R3 103.42

More By This Author:

Euro Remains Under Pressure Below 1.0900, Looks At FOMC Minutes
EUR/USD Price Analysis: A More Convincing Upside Needs To Clear 1.1012
USD Index Treads Water Around The 103.00 Region

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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