USD Index Price Analysis: No Changes To The Current Consolidation

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  • DXY manages to regain some composure and tests 104.70.
  • Further range bound trade looks likely for the time being.

DXY trades within a narrow range at in the mid-104.00s at the beginning of the week.

So far, the continuation of the range bound theme seems the most likely scenario in the very near term for the index. In the meantime, the dollar needs to clear the February peak at 105.35 (February 27) to allow for extra recovery and a potential challenge of the 2023 top at 105.63 (January 6).

In the longer run, while below the 200-day SMA at 106.55, the outlook for the index remains negative.
 

DXY daily chart

(Click on image to enlarge)


Dollar Index Spot

OVERVIEW
Today last price 104.5
Today Daily Change 35
Today Daily Change % -0.02
Today daily open 104.52
TRENDS
Daily SMA20 104.08
Daily SMA50 103.37
Daily SMA100 104.94
Daily SMA200 106.82
LEVELS
Previous Daily High 105.01
Previous Daily Low 104.48
Previous Weekly High 105.36
Previous Weekly Low 104.09
Previous Monthly High 105.36
Previous Monthly Low 100.81
Daily Fibonacci 38.2% 104.69
Daily Fibonacci 61.8% 104.81
Daily Pivot Point S1 104.33
Daily Pivot Point S2 104.14
Daily Pivot Point S3 103.8
Daily Pivot Point R1 104.86
Daily Pivot Point R2 105.2
Daily Pivot Point R3 105.39

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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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