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US Dollar Index Price Analysis: Deeper Retracement Seen Below 104.00

  • DXY resumes decline and tests 104.00.
  • Breaking 104.00 could lead to additional losses.

He US Dollar Index (DXY) reverses two consecutive daily advances and resumes the downtrend on Friday.

Should the bears regain control, the break of the November low of 103.98 (Nov 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.61 before the weekly low of 102.96 (30 of August).

Meanwhile, as long as it remains above the key 200-day SMA, the outlook for the DXY is expected to remain constructive.

DXY Daily Chart

Dollar Index Spot

Latest price today 104.12
Today Daily variation 54
Today’s daily variation -0.25
Today’s daily opening 104.38
daily SMA20 105.75
daily SMA50 105.83
SMA100 daily 104.19
SMA200 daily 103.62
Previous daily high 104.56
Previous daily low 104.01
Previous weekly high 106.01
Previous weekly low 104.85
Previous Monthly High 107.35
Previous monthly low 105.35
Daily Fibonacci 38.2 104.35
Fibonacci 61.8% daily 104.22
Daily Pivot Point S1 104.07
Daily Pivot Point S2 103.77
Daily Pivot Point S3 103.53
Daily Pivot Point R1 104.62
Daily Pivot Point R2 104.86
Daily Pivot Point R3 105.17

Source: Fx Street

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