USD Index Price Analysis: The breach of 101.77 exposes a deeper decline

The index adds to Tuesday’s losses and returns below 102.00.
A move below the January low at 101.77 exposes extra retracements.

Pablo Piovano FXStreet

The DXY trades on the defensive and revisits the area below the 102.00 mark amidst intense selling pressure on Wednesday.

So far, the continuation of the side-lined mood looks like the name of the game for the dollar, at least in the near term. In case bears regain the upper hand, the loss of the January low at 101.77 (January 16) should put a potential deeper drop to the May 2022 low around 101.30 (May 30) back on the investors’ radar prior to the psychological 100.00 level.

In the meantime, while below the 200-day SMA at 106.42 the outlook for the index should remain tilted to the negative side.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.06
Today Daily Change	100
Today Daily Change %	-0.32
Today daily open	102.39

Trends
Daily SMA20	103.7
Daily SMA50	104.75
Daily SMA100	107.82
Daily SMA200	106.81

Levels
Previous Daily High	102.57
Previous Daily Low	101.93
Previous Weekly High	103.95
Previous Weekly Low	101.99
Previous Monthly High	106.02
Previous Monthly Low	103.39
Daily Fibonacci 38.2%	102.32
Daily Fibonacci 61.8%	102.17
Daily Pivot Point S1	102.03
Daily Pivot Point S2	101.66
Daily Pivot Point S3	101.39
Daily Pivot Point R1	102.66
Daily Pivot Point R2	102.93
Daily Pivot Point R3	103.3

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 defends 1.3300 after strong UK PMI data

Following Thursday's sharp decline, GBP/USD clings to small gains above 1.3300 in the American session on Friday, supported by the upbeat UK Retail Sales and July PMI data. Nevertheless, the pair's upside remains capped as investors cling to a cautious stance amid a further escalation of tensions in the Middle East. The US July PMI data failed to trigger relevant price action.

EUR/USD remains below 1.1400 after mixed US PMIs

EUR/USD pressures daily lows below the 1.1400 mark in the American session on Friday. Mixed S&P Global PMIs, as manufacturing output contracted while services activity expanded in July, triggered no relevant market reaction. The focus remains in Middle East developments and inflation-related concerns.

Gold holds above $4,050 but momentum still missing

Gold builds on its modest intraday bounce and climbs above the $4,050 level on Friday, hitting a fresh daily high amid a modest US Dollar pullback. The fundamental backdrop, however, warrants some caution before confirming that the pullback from an over two-week high, touched on Wednesday, has run its course and positioning for any meaningful upside.

Ethereum: Derivatives interest in ETH improves, but signs of caution remain

Ethereum is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest. The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.

XRP retreats as ETF interest cools

Ripple (XRP) slides toward the short-term $1.10 support on Friday, as broader crypto market sentiment weighs on crypto assets. The sell-off mainly stems from fears of inflation in the United States (US) amid the ongoing war in the Middle East and rising Oil prices.

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.