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USD Index Price Analysis: Losses could accelerate below 102.60

  • The index remains on the defensive in the first half of the week.
  • Next on the downside emerges the 102.60 zone.

DXY adds to the bearish note recorded on Monday and puts the 103.00 support level to the test on Tuesday.

The recent price action leaves the door open to the continuation of the consolidative phase for the time being. However, a drop below last week’s low at 102.64 (February 9) should open the door to a deeper pullback in the short term to, initially, the 3-month support line, today near 102.35.

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 price103.01
Today Daily Change35
Today Daily Change %-0.26
Today daily open103.28
 
Trends
Daily SMA20102.45
Daily SMA50103.42
Daily SMA100105.97
Daily SMA200106.73
 
Levels
Previous Daily High103.83
Previous Daily Low103.24
Previous Weekly High103.96
Previous Weekly Low102.64
Previous Monthly High105.63
Previous Monthly Low101.5
Daily Fibonacci 38.2%103.47
Daily Fibonacci 61.8%103.61
Daily Pivot Point S1103.06
Daily Pivot Point S2102.85
Daily Pivot Point S3102.47
Daily Pivot Point R1103.66
Daily Pivot Point R2104.05
Daily Pivot Point R3104.26

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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