USD Index Price Analysis: Extra range bound in store

The index maintains the choppiness unchanged this week.
Further side-lined trading is likely in the short term.

Pablo Piovano FXStreet

DXY reverses Thursday’s decline to weekly lows and regains the area well north of the 103.00 barrier on Friday.

The recent price action leaves the door open to the continuation of the consolidative phase for the time being. Against that, the upper end of the range appears capped by the vicinity of the 104.00 mark, while weekly lows near 102.60 seem to emerge as a decent initial contention.

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.43
Today Daily Change	61
Today Daily Change %	0.21
Today daily open	103.21

Trends
Daily SMA20	102.33
Daily SMA50	103.5
Daily SMA100	106.17
Daily SMA200	106.71

Levels
Previous Daily High	103.56
Previous Daily Low	102.64
Previous Weekly High	103.01
Previous Weekly Low	100.81
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	102.99
Daily Fibonacci 61.8%	103.21
Daily Pivot Point S1	102.71
Daily Pivot Point S2	102.22
Daily Pivot Point S3	101.79
Daily Pivot Point R1	103.64
Daily Pivot Point R2	104.06
Daily Pivot Point R3	104.56

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 bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.