USD Index Price Analysis: No changes to the range bound theme

DXY recoups part of the losses seen on Thursday.
Decent support emerges at the 102.00/101.90 band.

Pablo Piovano FXStreet

DXY manages to regain some balance and bounces off the earlier retracement to the 102.00 neighbourhood.

So far, it seems the index could extend the consolidative range amidst the broader bearish stance. That said, a drop below the monthly low at 101.91 (March 23) should open the door to a potential visit to the 2023 low around 100.80 (February 2).

Looking at the broader picture, while below the 200-day SMA, today at 106.55, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.44
Today Daily Change	47
Today Daily Change %	0.26
Today daily open	102.17

Trends
Daily SMA20	103.76
Daily SMA50	103.48
Daily SMA100	104.02
Daily SMA200	106.66

Levels
Previous Daily High	102.78
Previous Daily Low	102.07
Previous Weekly High	103.96
Previous Weekly Low	101.92
Previous Monthly High	105.36
Previous Monthly Low	100.81
Daily Fibonacci 38.2%	102.34
Daily Fibonacci 61.8%	102.51
Daily Pivot Point S1	101.9
Daily Pivot Point S2	101.63
Daily Pivot Point S3	101.19
Daily Pivot Point R1	102.61
Daily Pivot Point R2	103.05
Daily Pivot Point R3	103.32

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.

EUR/USD trims gains, hovers around 1.1900 post-US data

EUR/USD trades slightly on the back foot around the 1.1900 region in a context dominated by the resurgence of some buying interest around the US Dollar on turnaround Tuesday. Looking at the US docket, Retail Sales disappointed expectations in December, while the ADP 4-Week Average came in at 6.5K.

GBP/USD comes under pressure near 1.3680

The better tone in the Greenback hurts the risk-linked complex on Tuesday, prompting GBP/USD to set aside two consecutive days of gains and trade slightly on the defensive below the 1.3700 mark. Investors, in the meantime, keep their attention on key UK data due later in the week.

Gold loses some traction, still above $5,000

Gold faces some selling pressure on Tuesday, surrendering part of its recent two-day advance although managing to keep the trade above the $5,000 mark per troy ounce. The daily pullback in the precious metal comes in response to the modest rebound in the US Dollar, while declining US Treasury yields across the curve seem to limit the downside.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.