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DXY Price Analysis: With room for more losses

  • The DXY index leaves behind Wednesday’s gains.
  • A further drop could lead to a drop to the 102.30 region.

The US dollar index (DXY) it extends the turmoil observed so far this week and reverses the advance of the previous session.

Despite the current bounce, further pullbacks remain on the table and could now target the next support at 102.35 (May low), where firm support is expected to emerge.

Looking at the bigger picture, the index’s current bullish stance remains supported by the 3-month line around 100.20, while the longer-term outlook for the dollar looks constructive as long as it is above the 200-day simple moving average. at 96.49.

DXY day chart

Dollar Index Spot

Panorama
Last Price Today 103.58
Today’s Daily Change 0.29
Today’s Daily Change % 0.28
Today’s Daily Opening 103.29
Trends
20 Daily SMA 103.06
50 Daily SMA 100.71
100 Daily SMA 98.47
200 Daily SMA 96.41
levels
Previous Daily High 104.23
Previous Daily Minimum 103.24
Previous Maximum Weekly 105.01
Previous Weekly Minimum 103.38
Monthly Prior Maximum 103.94
Previous Monthly Minimum 98.31
Daily Fibonacci 38.2% 103.62
Daily Fibonacci 61.8% 103.85
Daily Pivot Point S1 102.94
Daily Pivot Point S2 102.59
Daily Pivot Point S3 101.95
Daily Pivot Point R1 103.94
Daily Pivot Point R2 104.58
Daily Pivot Point R3 104.93

Source: Fx Street

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