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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.

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 price102.44
Today Daily Change47
Today Daily Change %0.26
Today daily open102.17
 
Trends
Daily SMA20103.76
Daily SMA50103.48
Daily SMA100104.02
Daily SMA200106.66
 
Levels
Previous Daily High102.78
Previous Daily Low102.07
Previous Weekly High103.96
Previous Weekly Low101.92
Previous Monthly High105.36
Previous Monthly Low100.81
Daily Fibonacci 38.2%102.34
Daily Fibonacci 61.8%102.51
Daily Pivot Point S1101.9
Daily Pivot Point S2101.63
Daily Pivot Point S3101.19
Daily Pivot Point R1102.61
Daily Pivot Point R2103.05
Daily Pivot Point R3103.32

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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