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USD Index Price Analysis: Next on the downside comes 102.00

  • DXY picks up pace and rebounds from three-month lows near 102.50.
  • The next target emerges at the 200-day SMA near 103.60.

DXY leaves behind four consecutive sessions of losses and manages to regain some composure after bottoming out near 102.50 earlier on Wednesday.

While further weakness in the index remains on the cards in the very near term, occasional bullish attempts are expected to meet initial resistance around the key 200-day SMA, today at 103.59.

On the downside, the loss of the November low of 102.46 (November 29) should pave the way for a deeper drop to, initially, the round level at 102.00.

In the meantime, while below the key 200-day SMA, the outlook for the index is expected to remain bearish.

DXY daily chart

Dollar Index Spot

Overview
Today last price102.81
Today Daily Change47
Today Daily Change %0.06
Today daily open102.75
 
Trends
Daily SMA20104.62
Daily SMA50105.6
Daily SMA100104.25
Daily SMA200103.61
 
Levels
Previous Daily High103.32
Previous Daily Low102.61
Previous Weekly High104.22
Previous Weekly Low103.18
Previous Monthly High107.35
Previous Monthly Low105.35
Daily Fibonacci 38.2%102.88
Daily Fibonacci 61.8%103.05
Daily Pivot Point S1102.46
Daily Pivot Point S2102.18
Daily Pivot Point S3101.76
Daily Pivot Point R1103.17
Daily Pivot Point R2103.6
Daily Pivot Point R3103.88

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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