USD Index Price Analysis: Risks Further Weakness Near Term
- DXY keeps the tight range amidst steady downside pressure.
- Extra losses are likely on a breach of the 102.00 mark.
There is no respite for the selling bias in the dollar, as the DXY remains close to multi-week lows near the 102.00 region on Friday.
In case the index breaches the monthly low near 102.00, it could then pave the way for another visit to the monthly low of 101.02 (May 4) ahead of the April low at 100.78 (April 14).
Looking at the broader picture, while below the 200-day SMA at 105.28 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 | 102.03 |
| Today Daily Change | 31 |
| Today Daily Change % | -0.12 |
| Today daily open | 102.15 |
| TRENDS | |
|---|---|
| Daily SMA20 | 103.69 |
| Daily SMA50 | 102.61 |
| Daily SMA100 | 103.05 |
| Daily SMA200 | 105.09 |
| LEVELS | |
|---|---|
| Previous Daily High | 103.38 |
| Previous Daily Low | 102.09 |
| Previous Weekly High | 104.4 |
| Previous Weekly Low | 103.29 |
| Previous Monthly High | 104.7 |
| Previous Monthly Low | 101.03 |
| Daily Fibonacci 38.2% | 102.58 |
| Daily Fibonacci 61.8% | 102.89 |
| Daily Pivot Point S1 | 101.7 |
| Daily Pivot Point S2 | 101.25 |
| Daily Pivot Point S3 | 100.41 |
| Daily Pivot Point R1 | 102.98 |
| Daily Pivot Point R2 | 103.82 |
| Daily Pivot Point R3 | 104.27 |
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