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USD Index Price Analysis: Another drop below 103.00 is not ruled out

  • DXY attempts a decent bounce and retakes 103.00 and beyond.
  • Next on the downside appears the June low near 102.70.

Despite the ongoing rebound, DXY remains under pressure around the 103.00 region on Thursday.                                                                                             

In case the index breaches the monthly low near 103.00, it could then pave the way for another visit to the monthly low of 102.66 (June 14) prior to the interim 55-day SMA at 102.56.

Looking at the broader picture, while below the 200-day SMA at 105.32 the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price103.19
Today Daily Change46
Today Daily Change %0.17
Today daily open103.02
 
Trends
Daily SMA20103.76
Daily SMA50102.61
Daily SMA100103.05
Daily SMA200105.15
 
Levels
Previous Daily High103.4
Previous Daily Low102.66
Previous Weekly High104.4
Previous Weekly Low103.29
Previous Monthly High104.7
Previous Monthly Low101.03
Daily Fibonacci 38.2%102.94
Daily Fibonacci 61.8%103.12
Daily Pivot Point S1102.65
Daily Pivot Point S2102.28
Daily Pivot Point S3101.91
Daily Pivot Point R1103.39
Daily Pivot Point R2103.77
Daily Pivot Point R3104.14

Author

Pablo Piovano

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

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