USD Index Price Analysis: Selling pressure unchanged below 102.30


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  • The index fades the initial uptick to the 102.00 zone on Friday.
  • The negative view persists while below the resistance line near 102.30.

The upside momentum in DXY falters just ahead of the key 102.00 barrier in pre-NFP trading at the end of the week.

In the near term, further losses appear in the pipeline while below the 3-month resistance line near 102.30. If the index manages to clear this region it could accelerate gains to the provisional 55-day SMA, today at 103.93.

Below this line, the dollar is expected to keep the short-term bearish bias unchanged and with the immediate target at the 2023 low at 100.80 (February 2).

In the longer run, while below the 200-day SMA at 106.44, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price 101.6
Today Daily Change 41
Today Daily Change % -0.15
Today daily open 101.75
 
Trends
Daily SMA20 102.29
Daily SMA50 103.64
Daily SMA100 106.6
Daily SMA200 106.7
 
Levels
Previous Daily High 101.91
Previous Daily Low 100.81
Previous Weekly High 102.44
Previous Weekly Low 101.5
Previous Monthly High 105.63
Previous Monthly Low 101.5
Daily Fibonacci 38.2% 101.49
Daily Fibonacci 61.8% 101.23
Daily Pivot Point S1 101.07
Daily Pivot Point S2 100.39
Daily Pivot Point S3 99.96
Daily Pivot Point R1 102.17
Daily Pivot Point R2 102.59
Daily Pivot Point R3 103.27

 

 

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