US Dollar Index Price Analysis: Extra rangebound appears likely

The upside in DXY remains capped by the 91.40/50 band.
There is an interim hurdle at the 50-day SMA near 91.75.

Pablo Piovano FXStreet

DXY trades on a renewed offered bias after meeting quite decent resistance in the 91.40/50 band so far this month.

Some consolidation in the near-term seems probable, with the lower bound of the range emerging near 90.80 and gains limited in the mid-91.00s.

A subsequent recovery should not be ruled out, with the interim resistance at the 50-day SMA near 91.75 as the next target on the upside. If cleared, then a move to the more relevant 200-day SMA (91.93) could emerge on the horizon.

Above the latter the downside pressure is expected to mitigate somewhat, and the outlook could start shifting to a more constructive one.

DXY daily chart

Dollar Index Spot

Overview
Today last price	91.06
Today Daily Change	38
Today Daily Change %	-0.23
Today daily open	91.27

Trends
Daily SMA20	91.32
Daily SMA50	91.74
Daily SMA100	91.04
Daily SMA200	91.94

Levels
Previous Daily High	91.44
Previous Daily Low	91.18
Previous Weekly High	91.32
Previous Weekly Low	90.42
Previous Monthly High	93.33
Previous Monthly Low	90.42
Daily Fibonacci 38.2%	91.28
Daily Fibonacci 61.8%	91.34
Daily Pivot Point S1	91.15
Daily Pivot Point S2	91.03
Daily Pivot Point S3	90.89
Daily Pivot Point R1	91.41
Daily Pivot Point R2	91.55
Daily Pivot Point R3	91.67

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 weakens to near 1.1900 as traders eye US data

EUR/USD eases to near 1.1900 in Tuesday's European trading hours, snapping the two-day winning streak. Markets turn cautious, lifting the haven demand for the US Dollar ahead of the release of key US economic data, including Retail Sales and ADP Employment Change 4-week average.

GBP/USD stays in the red below 1.3700 on renewed USD demand

GBP/USD trades on a weaker note below 1.3700 in the European session on Tuesday. The pair faces challenges due to renewed US Dollar demand, UK political risks and rising expectations of a March Bank of England rate cut. The immediate focus is now on the US Retail Sales data.

Gold sticks to modest losses above $5,000 ahead of US data

Gold sticks to modest intraday losses through the first half of the European session, though it holds comfortably above the $5,000 psychological mark and the daily swing low. The outcome of Japan's snap election on Sunday removes political uncertainty, which along with signs of easing tensions in the Middle East, remains supportive of the upbeat market mood. This turns out to be a key factor exerting downward pressure on the safe-haven precious metal.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Follow the money, what USD/JPY in Tokyo is really telling you

Over the past two Tokyo sessions, this has not been a rate story. Not even close. Interest rate differentials have been spectators, not drivers. What has moved USD/JPY in local hours has been flow and flow alone.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.