DXY Price Analysis: Upside is capped at 103.00 for now

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  • The DXY remains range bound around 102.00.
  • Upside attempts face an immediate hurdle at the 103.00 zone.

The US Dollar Index (DXY) extends the sideways trend for another day, and remains near the 102.00 area on Wednesday.

At the moment, we must not rule out a continuity within the range. 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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To the upside, the weekly high of 102.89 (Jan 18) is expected to offer initial resistance.

Meanwhile, if it remains below the 200-day SMA at 106.46, the outlook for the index should remain negative.

DXY day chart

Spot Dollar Index

Overview
Last price today 102.03
Today Daily Variation 3. 4
today’s daily variation 0.12
today’s daily opening 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 minimum 103.39
Fibonacci daily 38.2 101.99
Fibonacci 61.8% daily 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
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Source: Fx Street

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