DXY Price Analysis: Pointing to more consolidation in the near term

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  • The DXY extends the trade sideways around 102.00.
  • Resumption of falls could retest the 101.30 zone.

The US Dollar Index (DXY) is trading in the consolidation phase around 102.00.

At the moment, we must not rule out more movements in ranges. Should the bears regain control, the index could pull back further and revisit the 2023 low at 101.52 (Jan 18) before the May 2022 low around 101.30 (May 30), all before the psychological barrier of 100.00.

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In the meantime, if it continues below the 200 SMA at 106.45, the outlook for the index should remain negative.

DXY day chart

Spot Dollar Index

Last price today 102.07
Today Daily Variation 46
today’s daily variation 0.04
today daily opening 102.03
daily SMA20 103.27
daily SMA50 104.34
daily SMA100 107.48
daily SMA200 106.78
previous daily high 102.27
previous daily low 101.58
Previous Weekly High 102.9
previous weekly low 101.51
Previous Monthly High 106.02
Previous monthly minimum 103.39
Fibonacci daily 38.2 102.01
Fibonacci 61.8% daily 101.85
Daily Pivot Point S1 101.65
Daily Pivot Point S2 101.27
Daily Pivot Point S3 100.96
Daily Pivot Point R1 102.34
Daily Pivot Point R2 102.65
Daily Pivot Point R3 103.03

Source: Fx Street

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