USD Index Price Analysis: Another drop to 104.00 remains in store

Pablo Piovano FXStreet

- DXY adds to Wednesday’s recovery and revisits the mid-104.00s.

- The resumption of the selling pressure initially targets 103.98.

DXY manages to pick up extra pace and extends further the bounce off multi-week lows around 104.00 on Thursday.

In case bears regain the upper hand, the breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.61 prior to the weekly low of 102.96 (August 30).

In the meantime, while above the key 200-day SMA, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.4
Today Daily Change	25
Today Daily Change %	0.00
Today daily open	104.4

Trends
Daily SMA20	105.85
Daily SMA50	105.85
Daily SMA100	104.18
Daily SMA200	103.62

Levels
Previous Daily High	104.51
Previous Daily Low	103.99
Previous Weekly High	106.01
Previous Weekly Low	104.85
Previous Monthly High	107.35
Previous Monthly Low	105.35
Daily Fibonacci 38.2%	104.31
Daily Fibonacci 61.8%	104.19
Daily Pivot Point S1	104.09
Daily Pivot Point S2	103.78
Daily Pivot Point S3	103.57
Daily Pivot Point R1	104.61
Daily Pivot Point R2	104.82
Daily Pivot Point R3	105.13

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.

AUD/USD rises to 0.6950 as USD slips on Fed's Warsh

AUD/USD regains traction and extends the bounce toward 0.6950 in the Asian session on Friday. Fed Chair Warsh's comments reinforce the selling pressure on the US Dollar, allowing the pair to stretch higher. Warsh said that he remains committed to delivering price stability without giving away anything on future interest rate path.

USD/JPY falls in symc with USD, gives up 158.00 after Warsh's speech

USD/JPY has come under fresh selling pressure and gives up 158.00 in the Asian session on Friday amid the emergence of fresh US Dollar selling. Fed Chair Warsh's non-committal commentary on the future tightening path, weighs on the US Dollar and the pair.

Gold looks vacillating above $4,150

Gold alternates gains with losses below the key $4,200 mark per troy ounce on Friday. The yellow metal’s irresolute price action comes in response to a modest pullback in the US Dollar and a tepid recovery in US Treasury yields across the board.

Bitcoin steadies at $82,000: The five forces crushing the Uptober rally

Crypto markets have remained under pressure so far in October, with Bitcoin (BTC) sliding below $80,000 earlier this week before recovering to around $82,000 on Friday, as macroeconomic headwinds and cooling demand weigh on the market.

The Fed just got a second hot inflation number. Here's what the diesel signal is really saying

The Federal Reserve (Fed) faces a renewed inflation challenge after two consecutive reports showed price pressure intensifying across the US economy. September's Consumer Price Index (CPI) confirmed accelerating consumer inflation, while the Producer Price Index (PPI) revealed an even sharper rise in business costs. Behind both reports lies a common factor: energy prices.

Everyone's dumping Gold after hot US inflation. Here's why $4,100 could be a floor, not a cliff

Gold (XAU/USD) is recovering from a sharp sell-off triggered by hotter-than-expected United States (US) inflation data released on Wednesday. The precious metal briefly plunged toward $4,073 as investors increased their bets on further Federal Reserve (Fed) interest rate hikes before recovering as US Treasury yields and the US Dollar (USD) reversed their initial gains.