DXY Price Analysis: Further falls would lead to a test of the 101.30 zone

Price action around the DXY does not show a clear direction on Tuesday.
Persistent weakness should open the door for a drop to 101.30.

The US Dollar Index (DXY) is trading sideways near, and above 103.00 on Tuesday.

A drop below the January low so far at 102.94 (Jan 9) could lead to the May 2022 low around 101.30 (May 30) reappearing on the horizon ahead of the 100.00 psychological level.

In the meantime, if it remains below the 200 SMA at 106.35, the outlook for the index should continue to tilt to the downside.

DXY day chart

Spot Dollar Index

Overview
Last price today	103.33
daily change today	31
today’s daily variation	0.14
today’s daily opening	103.19

Trends
daily SMA20	104.2
daily SMA50	105.23
daily SMA100	108.23
daily SMA200	106.8

levels
previous daily high	103.95
previous daily low	102.94
Previous Weekly High	105.63
previous weekly low	103.43
Previous Monthly High	106.02
Previous monthly minimum	103.39
Fibonacci daily 38.2	103.33
Fibonacci 61.8% daily	103.56
Daily Pivot Point S1	102.77
Daily Pivot Point S2	102.35
Daily Pivot Point S3	101.76
Daily Pivot Point R1	103.78
Daily Pivot Point R2	104.37
Daily Pivot Point R3	104.79

Source: Fx Street

Joshua

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.