USD Index Price Analysis: Decent contention emerges at 103.50

DXY surrenders part of Wednesday’s sharp uptick north of 105.00.
The March low near 103.50 should hold the downside so far.

Pablo Piovano FXStreet

DXY gives away some of Wednesday’s sharp gains and retreats to the 104.50 region on Thursday.

If bulls regain the upper hand, then the index could dispute the so far 2023 high at 105.88 (March 8) in the short-term horizon ahead of the key 200-day SMA, today at 106.64.

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

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.41
Today Daily Change	49
Today Daily Change %	-0.32
Today daily open	104.75

Trends
Daily SMA20	104.57
Daily SMA50	103.46
Daily SMA100	104.43
Daily SMA200	106.84

Levels
Previous Daily High	105.11
Previous Daily Low	103.44
Previous Weekly High	105.89
Previous Weekly Low	104.05
Previous Monthly High	105.36
Previous Monthly Low	100.81
Daily Fibonacci 38.2%	104.47
Daily Fibonacci 61.8%	104.08
Daily Pivot Point S1	103.76
Daily Pivot Point S2	102.77
Daily Pivot Point S3	102.1
Daily Pivot Point R1	105.43
Daily Pivot Point R2	106.1
Daily Pivot Point R3	107.09

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.

GBP/USD declines as market caution lifts US Dollar

GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape.

EUR/USD weakens below 1.1400 as Fed hike bets lift US Dollar

The EUR/USD pair trades on a negative note near 1.1380 during the early Asian trading hours on Wednesday. The major pair extends the decline as traders continue to assess the developments surrounding the US-Iran peace deal.

Gold nurses losses near $4,100 as Fed hike bets support USD

Gold recovers slightly from a fresh two-week low, near $4,070 touched during the Asian session on Wednesday, though it lacks follow-through. The US Dollar stands firm near its highest level since May 2025 amid firming expectations of a Fed rate hike, which, in turn, is seen undermining the non-yielding bullion. Furthermore, mixed US-Iran signals further favor the USD bulls.

Global strategy 3Q 2026

With the signing of a framework agreement and subsequent negotiations between the U.S. and Iran in June, the outlook for the third quarter is favorable. Oil prices have already fallen sharply, and futures are pricing in a further decline over the course of the year. This will ease the burden on consumers and reduce uncertainty among businesses, with positive effects on the economy.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.