US Dollar Index Price Analysis: A break below 100.00 appears on the cards

DXY is losing further momentum and challenges the 100.00 barrier.
Immediately to the downside emerges the 99.90 region.

Pablo Piovano FXStreet

DXY is trading on the defensive on Tuesday. In fact, the index has eroded Monday’s gains and is facing moderate selling pressure in the proximity of the 100.00 mark.

If sellers regain the upper hand, then the next target of relevance emerges at the February’s peak at 99.91. If cleared, a dip to late-March lows near 98.30 should return to the radar ahead of the key 200-day SMA, today at 98.11.

So far, the constructive stance on the buck remains unchanged as long as the 200-day SMA holds the downside.

DXY daily chart

Dollar Index Spot

Overview
Today last price	100.06
Today Daily Change	79
Today Daily Change %	-0.73
Today daily open	100.8

Trends
Daily SMA20	99.72
Daily SMA50	98.86
Daily SMA100	98.18
Daily SMA200	98.11

Levels
Previous Daily High	100.93
Previous Daily Low	100.48
Previous Weekly High	100.86
Previous Weekly Low	98.31
Previous Monthly High	103
Previous Monthly Low	94.63
Daily Fibonacci 38.2%	100.76
Daily Fibonacci 61.8%	100.65
Daily Pivot Point S1	100.54
Daily Pivot Point S2	100.29
Daily Pivot Point S3	100.09
Daily Pivot Point R1	100.99
Daily Pivot Point R2	101.19
Daily Pivot Point R3	101.44

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD looks weak below 1.1800

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.