USD Index Price Analysis: Upside capped by 103.00 so far


  • The index remains within a range bound theme around 102.00.
  • Bullish attempts face immediate hurdle near the 103.00 mark.

DXY extends the side-lined mood for yet another day near the 102.00 zone on Wednesday.

Further range bound should not be ruled out for the time being. In case bears regain the upper hand, the index could then slip further back and revisit the so far 2023 low at 101.52 (January 18) ahead of the May 2022 low around 101.30 (May 30), all before the psychological 100.00 yardstick.

On the upside, the so far weekly high at 102.89 (January 18) is expected to offer initial resistance.

In the meantime, while below the 200-day SMA at 106.46 the outlook for the index should remain tilted to the negative side.

DXY daily chart

Dollar Index Spot

Overview
Today last price 102.03
Today Daily Change 34
Today Daily Change % 0.12
Today daily open 101.91
 
Trends
Daily SMA20 103.15
Daily SMA50 104.26
Daily SMA100 107.37
Daily SMA200 106.77
 
Levels
Previous Daily High 102.44
Previous Daily Low 101.72
Previous Weekly High 102.9
Previous Weekly Low 101.51
Previous Monthly High 106.02
Previous Monthly Low 103.39
Daily Fibonacci 38.2% 101.99
Daily Fibonacci 61.8% 102.16
Daily Pivot Point S1 101.61
Daily Pivot Point S2 101.31
Daily Pivot Point S3 100.89
Daily Pivot Point R1 102.32
Daily Pivot Point R2 102.74
Daily Pivot Point R3 103.04

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD bounces back from five-month lows

AUD/USD bounces back from five-month lows

AUD/USD ends its three-day decline on Wednesday, bouncing back from levels not seen since mid-November. Nevertheless, hawkish remarks from Federal Reserve officials and the influx of safe-haven flows could bolster the US Dollar and potentially limit the upside of pair in the short term.

AUD/USD News

USD/JPY trades with mild losses below 155.00 on risk-aversion

USD/JPY trades with mild losses below 155.00 on risk-aversion

USD/JPY trades with mild losses near 154.65 on Wednesday during the early Asian trading hours. The robust US economy and sticky inflation data have triggered the expectation that the Fed might delay the easing cycle to September from June, which provides some support to the US Dollar.

USD/JPY News

Gold ascends but remains shy of testing $2,400 amid hawkish Fed remarks

Gold ascends but remains shy of testing $2,400 amid hawkish Fed remarks

Gold prices edged higher late in North American session, gaining 0.22% following a hawkish tilt by Fed Chair Jerome Powell. Economic data from the United States was mixed, though Monday’s Retail Sales report and Powell’s remarks kept US Treasury yields higher, capping the yellow metal’s advance.

Gold News

OKX executives depart from exchange while its XLayer Chain goes live

OKX executives depart from exchange while its XLayer Chain goes live

Two senior executives at crypto exchange OKX, Tim Byun and Wei Lan, have left the company after years of heading key roles, according to a CoinDesk source. However, the company is making expansion moves through the launch of its own Layer 2 chain.

Read more

UK CPI inflation data ahead: Sterling hovering north of key support

UK CPI inflation data ahead: Sterling hovering north of key support

Following today's mixed bag of employment and wages data, today’s attention is directed to the March UK CPI inflation release. Both headline and core measures are expected to demonstrate further evidence of disinflation.

Read more

Forex MAJORS

Cryptocurrencies

Signatures