Categories: Markets

US Dollar Index Price Analysis: 101.90 Zone Limits Downside…for Now

US Dollar Index Price Analysis: 101.90 Zone Limits Downside…for Now
  • The DXY attempts a slight bounce towards the 102.70/75 zone on Wednesday.
  • The monthly low near 101.90 emerges as a decent support zone.

He US dollar index (DXY) tries to shake off some of the recent bearish pressure, although the upside faltered near 102.70 on Wednesday.

Meanwhile, it appears that the index has entered a consolidation phase. The drop below the March low at 101.91 (March 23) is expected to encourage sellers to return to the market and open the door for a possible visit to the 2023 low around 100.80 (Feb 2).

On a bigger picture, as long as it holds below the 200-day SMA, today at 106.57, the outlook for the index is expected to remain negative.

DXY daily chart

Spot Dollar Index

Last price today 102.48
Today Daily Variation 35
today’s daily variation 0.05
today’s daily opening 102.43
daily SMA20 103.99
daily SMA50 103.47
daily SMA100 104.11
daily SMA200 106.72
previous daily high 102.87
previous daily low 102.38
Previous Weekly High 103.96
previous weekly low 101.92
Previous Monthly High 105.36
Previous monthly minimum 100.81
Fibonacci daily 38.2 102.57
Fibonacci 61.8% daily 102.68
Daily Pivot Point S1 102.25
Daily Pivot Point S2 102.07
Daily Pivot Point S3 101.77
Daily Pivot Point R1 102.74
Daily Pivot Point R2 103.04
Daily Pivot Point R3 103.22

Source: Fx Street