USD Index Price Analysis: The loss of 100.80 exposes a drop to 100.00

DXY adds to Friday’s recovery and approaches the 102.00 barrier.
There are still chances of a breakdown of the 2023 peak near 100.80.

Pablo Piovano FXStreet

DXY extends further Friday’s optimism and looks to retake the 102.00 neighbourhood at the beginning of the week.

Despite the ongoing rebound, the index is expected to remain under pressure for the time being. Against that, the loss of the 2023 low at 100.78 (April 14) should open the door to a deeper decline to, initially, the psychological 100.00 mark.

South from here aligns the late-March 2022 lows near 97.70.

Looking at the broader picture, while below the 200-day SMA, today at 106.33, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	101.66
Today Daily Change	30
Today Daily Change %	0.08
Today daily open	101.58

Trends
Daily SMA20	102.3
Daily SMA50	103.47
Daily SMA100	103.53
Daily SMA200	106.37

Levels
Previous Daily High	101.75
Previous Daily Low	100.79
Previous Weekly High	102.76
Previous Weekly Low	100.79
Previous Monthly High	105.89
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	101.38
Daily Fibonacci 61.8%	101.15
Daily Pivot Point S1	100.99
Daily Pivot Point S2	100.41
Daily Pivot Point S3	100.04
Daily Pivot Point R1	101.95
Daily Pivot Point R2	102.33
Daily Pivot Point R3	102.91

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 retreats to daily lows near 1.1570

EUR/USD briefly pushed higher earlier in the session, climbing toward the 1.1650 area, but the recovery quickly lost momentum and the pair has drifted back to test the 1.1570 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is making it difficult for the pair to maintain its footing.

GBP/USD loses the grip, focus is on 1.3300

GBP/USD remains on the defensive on Thursday, hovering around the 1.3320 region. The British Pound is coming under pressure amid growing concerns that rising energy prices could expose the UK economy to stagflation risks, while renewed safe-haven demand for the Greenback continues to weigh on the pair.

Gold drops to two-day lows near $5,100

Gold turns lower on Thursday, slipping back toward the $5,100 area. Persistent strength in the US Dollar (USD) is preventing the precious metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.