US Dollar Index Price Analysis: Decent Support Emerges at 103.50

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  • The US Dollar Index (DXY) retraces some of Wednesday’s sharp rally above 105.00.
  • The March low near 103.50 should contain the decline so far.

The US Dollar Index (DXY) loses some of the strong gains on Wednesday and falls back to the 104.50 area on Thursday.

If the bulls regain control, the index could challenge the 2023 high at 105.88 (March 8) on the near-term horizon before the 200-day SMA, today at 106.64.

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On a bigger picture, as long as it stays below the 200-day SMA, the outlook for the greenback will remain negative.

DXY daily chart

Spot Dollar Index

Last price today 104.41
Today Daily Variation 49
today’s daily variation -0.32
today’s daily opening 104.75
daily SMA20 104.57
daily SMA50 103.46
daily SMA100 104.43
daily SMA200 106.84
previous daily high 105.11
previous daily low 103.44
Previous Weekly High 105.89
previous weekly low 104.05
Previous Monthly High 105.36
Previous monthly minimum 100.81
Fibonacci daily 38.2 104.47
Fibonacci 61.8% daily 104.08
Daily Pivot Point S1 103.76
Daily Pivot Point S2 102.77
Daily Pivot Point S3 102.1
Daily Pivot Point R1 105.43
Daily Pivot Point R2 106.1
Daily Pivot Point R3 107.09

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Source: Fx Street

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