DXY Price Analysis: Further consolidation seems likely in the near term

- Article Top Advertisement -
  • The DXY gives up part of the good advance on Monday.
  • More range-runs around current levels look likely.

The auspicious start to the week for the dollar was short-lived, as the US Dollar Index (DXY) undid some of the recent gains on Tuesday.

For now, the continuation of the sideways trend seems to be dominant for the dollar, at least in the short term.

- Article Inline Advertisement 1-

Should the bears regain control, the loss of the January low at 101.98 (Jan 13) should put a possible deeper fall back to the May 2022 low around 101.30 ( May 30) before the psychological level of 100.00. To the upside, there are no major hurdles until the January high at 105.63 (Jan 6).

Meanwhile, below the 200-day SMA at 106.41, the outlook for the index should remain negative.

DXY day chart

Spot Dollar Index

Last price today 102.4
daily change today 33
today’s daily variation 0.04
today daily opening 102.36
daily SMA20 103.78
daily SMA50 104.84
daily SMA100 107.89
daily SMA200 106.81
previous daily high 102.56
previous daily low 101.77
Previous Weekly High 103.95
previous weekly low 101.99
Previous Monthly High 106.02
Previous monthly minimum 103.39
Fibonacci daily 38.2 102.26
Fibonacci 61.8% daily 102.07
Daily Pivot Point S1 101.9
Daily Pivot Point S2 101.44
Daily Pivot Point S3 101.12
Daily Pivot Point R1 102.69
Daily Pivot Point R2 103.02
Daily Pivot Point R3 103.48
- Advertisement -

Source: Fx Street

- Article Bottom Advertisement -


Please enter your comment!
Please enter your name here

Hot Topics

Related Articles