DXY Price Analysis: Break of 101.77 Exposes Index to Deeper Fall

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  • The DXY extends Tuesday’s slide and returns below 102.00.
  • A move below the January low at 101.77 exposes the index to further declines.

The US Dollar Index (DXY) is trading defensively and revisits the area below 102.00 amid intense selling pressure on Wednesday.

For now, continuation of the sideways trend seems like the name of the game for the dollar, at least in the short term. Should the bears regain control, the loss of the January low at 101.77 (Jan 16) should put a possible deeper fall back to the May 2022 low around 101.30 ( May 30) before the psychological level of 100.00.

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Meanwhile, below the 200-day SMA at 106.42, the outlook for the index should remain negative.

DXY day chart

Spot Dollar Index

Last price today 102.06
daily change today 100
today’s daily variation -0.32
today’s daily opening 102.39
daily SMA20 103.7
daily SMA50 104.75
daily SMA100 107.82
daily SMA200 106.81
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 minimum 103.39
Fibonacci daily 38.2 102.32
Fibonacci 61.8% daily 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

Source: Fx Street

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