USD Index Price Analysis: Near-term consolidation on the cards

DXY extends the weekly consolidative mood around 103.00.
The resumption of the buying interest could challenge 103.50.

Pablo Piovano FXStreet

DXY alternates gains with losses amidst the weekly range bound theme around the 103.00 zone on Wednesday.

While further consolidation seems probable in the very near term, the continuation of the uptrend in place since mid-June could challenge the weekly high at 103.54 (June 30) prior to the May high at 104.69 (May 31), which appears reinforced by the 200-day SMA.

Looking at the broader picture, while below the 200-day SMA at 104.74, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103
Today Daily Change	35
Today Daily Change %	-0.11
Today daily open	103.11

Trends
Daily SMA20	102.92
Daily SMA50	102.85
Daily SMA100	103.04
Daily SMA200	104.46

Levels
Previous Daily High	103.11
Previous Daily Low	102.88
Previous Weekly High	103.55
Previous Weekly Low	102.32
Previous Monthly High	104.5
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	103.03
Daily Fibonacci 61.8%	102.97
Daily Pivot Point S1	102.95
Daily Pivot Point S2	102.8
Daily Pivot Point S3	102.72
Daily Pivot Point R1	103.19
Daily Pivot Point R2	103.27
Daily Pivot Point R3	103.42

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 nudges higher above 1.3350 despite Middle East turmoil

The GBP/USD pair rebounds to near 1.3385 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid cooler-than-expected UK inflation data and escalating tensions in the Middle East. Traders will take more cues from the UK Retail Sales report, which is due later on Friday.

EUR/USD advances ahead of ECB policy decision

EUR/USD extends its gains for the second consecutive day, trading around 1.1410 during the Asian hours on Thursday. The pair gains ground as the Euro finds solid support ahead of the European Central Bank's upcoming interest rate decision.

Gold is at a critical juncture as Middle East conflict widens

Gold snaps a four-day recovery early Thursday as widening Mideast conflict-led rallying Oil prices spur inflation fears. The US Dollar stays defensive amid potential USD/JPY sell-off, as ‘Yenternvention’ risks loom. Gold at a crossroads, awaiting Bear Cross confirmation on the daily chart, as RSI flirts with 50.

Australia unemployment rate set to steady at 4.4% in June, signaling strong job market

Australia will publish the June monthly employment report on Thursday at 01:30 GMT, and market participants expect a modest increase in job creation in the land Down Under. The Australian Bureau of Statistics is expected to announce that the country added 15K new jobs in the month, while the Unemployment Rate is forecast at 4.4%, unchanged from May.

Bitcoin recovery eases – HBAR and LDO test key resistance zones

Bitcoin edges below $66,000 on Thursday, extending the previous day's losses. Hedera and Lido DAO sustain bullish momentum, testing the breakout of a crucial resistance zone to extend their rally. CoinMarketCap’s Fear and Greed Index at 39 stalls below the neutral territory, indicating that sellers remain dominant.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.