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USD Index Price Analysis: Immediate hurdle comes at 102.84

  • DXY regains upside traction following two daily pullbacks in a row.
  • There is an initial hurdle at the monthly high of 102.84.

DXY regains composure and reclaims the area beyond the key 102.00 hurdle at the beginning of the week.

The index manages to leave behind part of the selling pressure seen in the latter part of the week and retakes the 102.00 yardstick and beyond on Monday. The index needs to rapidly clear the so far monthly top of 102.84 (August 3) to allow for a potential move to the July top of 103.57 (July 3), which appears underpinned by the proximity of the key 200-day SMA.

Looking at the broader picture, while below the 200-day SMA (103.52) the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price102.19
Today Daily Change42
Today Daily Change %0.18
Today daily open102.01
 
Trends
Daily SMA20101.22
Daily SMA50102.39
Daily SMA100102.34
Daily SMA200103.36
 
Levels
Previous Daily High102.62
Previous Daily Low101.74
Previous Weekly High102.84
Previous Weekly Low101.53
Previous Monthly High103.57
Previous Monthly Low99.57
Daily Fibonacci 38.2%102.08
Daily Fibonacci 61.8%102.28
Daily Pivot Point S1101.63
Daily Pivot Point S2101.25
Daily Pivot Point S3100.76
Daily Pivot Point R1102.51
Daily Pivot Point R2103
Daily Pivot Point R3103.38

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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