United States Dollar Index Price Forecast: Loses traction near 23.6% Fibo., near 100.85
- DXY struggles to capitalize on its modest uptick to the 23.6% Fibo. support-turned-resistance.
- Energy-driven inflation risks fuel Fed hike bets, which should limit deeper losses for the buck.
- A convincing break below 200-SMA on H4 would pave the way for a further depreciating move.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts some sellers following an uptick on Friday, stalling its recovery from a nearly one-month trough, around the 100.35 region touched earlier this week. The index, however, lacks bearish conviction and currently trades near the 100.100.65 zone, down just over 0.05% for the day.
Traders scaled back their expectations for an immediate US Federal Reserve (Fed) interest rate hike in reaction to this week's soft US Consumer Price Index (CPI) and Producer Price Index (PPI) reports. This, in turn, keeps the DXY below the 23.6% Fibonacci retracement level of the May-June rally. However, investors remain worried about concerns about energy-driven inflation amid escalating US-Iran tensions, which seems to have revived expectations for at least one rate hike by the Fed in 2026 and helps limit losses for the US Dollar (USD).
From a technical perspective, the DXY earlier this week showed some resilience below the 200-period Simple Moving Average (SMA) near the 100.55 area. Meanwhile, the Relative Strength Index (RSI) near 44 hints at fragile momentum, while the Moving Average Convergence Divergence (MACD) sits marginally above zero, suggesting a tentative attempt to stabilize after recent losses. A convincing break below, however, would expose deeper Fibonacci cushions at 100.22, 99.72, 99.23, and 98.52, which together delineate a layered demand zone.
On the topside, initial resistance is defined by the 23.6% Fibo. retracement at 100.83, where a sustained break would open the way for additional gains beyond the 101.00 mark, towards 101.80, or the year-to-date high touched on June 24.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
DXY 4-hour chart
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.06% | 0.04% | -0.13% | -0.08% | 0.11% | -0.00% | -0.12% | |
| EUR | 0.06% | 0.12% | -0.07% | -0.05% | 0.18% | 0.06% | -0.07% | |
| GBP | -0.04% | -0.12% | -0.20% | -0.17% | 0.05% | -0.05% | -0.19% | |
| JPY | 0.13% | 0.07% | 0.20% | 0.04% | 0.25% | 0.12% | 0.00% | |
| CAD | 0.08% | 0.05% | 0.17% | -0.04% | 0.21% | 0.09% | -0.04% | |
| AUD | -0.11% | -0.18% | -0.05% | -0.25% | -0.21% | -0.12% | -0.25% | |
| NZD | 0.00% | -0.06% | 0.05% | -0.12% | -0.09% | 0.12% | -0.13% | |
| CHF | 0.12% | 0.07% | 0.19% | -0.01% | 0.04% | 0.25% | 0.13% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Author
Haresh Menghani
FXStreet
Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.
