USD Index Price Analysis: Decent support emerges around 101.50

The index rebounds after dropping to multi-month lows at 101.50.
The dollar’s negative outlook remains unchanged below 106.50.

Pablo Piovano FXStreet

DXY manages to regain some composure and bounces off earlier 8-month lows in the mid-101.00s on Thursday.

Despite the rebound, the index remains well under pressure and a sustainable breach of the 101.50 level should accelerate losses to, initially, the May 2022 low around 101.30 (May 30) prior to the psychological 100.00 yardstick.

On the upside, the so far weekly high at 102.89 (January 18) is expected to offer minor resistance.

In the meantime, while below the 200-day SMA at 106.47, the index is expected to risk extra losses.

DXY daily chart

Dollar Index Spot

Overview
Today last price	101.82
Today Daily Change	37
Today Daily Change %	0.18
Today daily open	101.64

Trends
Daily SMA20	103.01
Daily SMA50	104.17
Daily SMA100	107.26
Daily SMA200	106.76

Levels
Previous Daily High	102.12
Previous Daily Low	101.57
Previous Weekly High	102.9
Previous Weekly Low	101.51
Previous Monthly High	106.02
Previous Monthly Low	103.39
Daily Fibonacci 38.2%	101.78
Daily Fibonacci 61.8%	101.91
Daily Pivot Point S1	101.43
Daily Pivot Point S2	101.22
Daily Pivot Point S3	100.87
Daily Pivot Point R1	101.98
Daily Pivot Point R2	102.33
Daily Pivot Point R3	102.54

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 jumps to 0.7050, fresh one-month top after hot Australian CPI

AUD/USD attracts buyers for the second straight day on Wednesday, rising to a fresh high since September 23 during the Asian session. A hot Australian CPI print reaffirmed bets for an imminent RBA rate hike in November and boosted the Australian Dollar. Meanwhile, the US Dollar pauses after a three-day rally to a near two-week high ahead of the crucial FOMC rate decision, lending additional support to the currency pair.

USD/JPY sticks to modest gains above 157.50 as traders await Fed, BoJ meetings

USD/JPY attracts buyers for the third straight day, recovering further from a one-month low ahead of Wednesday’s FOMC decision and the BoJ policy update on Friday. Meanwhile, expectations that the BoJ may hold off on aggressive rate hikes weigh on the Japanese Yen, and the US Dollar advances to a nearly two-week high, supporting the currency pair.

Gold drops as oil price rebounds, Fed’s policy eyed

Gold slips 0.3% to near $4,050 in the Asian trade on Wednesday, as oil prices bounce back after a two-day correction. The precious metal is expected to face high volatility as the Federal Reserve is scheduled to announce the monetary policy later in the day at 18:00 GMT.

Bitcoin, Ethereum and XRP recover as Big Tech earnings take center stage

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their recovery on Wednesday as investors turn their attention to major technology companies' earnings reports. Microsoft and Alphabet are due to report their Q3 earnings on Wednesday, followed by Amazon on Thursday.

FOMC outlook: Why keeping rates unchanged might not be enough

Tomorrow's FOMC meeting could be quite interesting, even if the Federal Reserve decides to leave interest rates unchanged. According to the latest market expectations, there is currently a 92.8% probability that rates will remain at 3.75–4.00%, while the probability of another 25 basis point increase stands at just 7.2%.

Anthropic pledged $270 billion to Amazon, Google, and Microsoft. Here's who actually gets paid

Anthropic owes Amazon, Google, and Microsoft at least $269.4 billion for computing power, even if it uses less. All three sell its models and handle its billing, and Amazon and Google own stakes and lend it money, so they get paid regardless of how the IPO goes. The Dario Amodei-led Anthropic filed its initial public offering (IPO) on Monday, seeking a listing on the Nasdaq under the ticker ANT.