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US Dollar Index Price Analysis: Remains Ranged

  • The DXY recovers part of the losses registered on Thursday.
  • Good support is found in the 102.00/101.90 zone.

The US Dollar Index (DXY) manages to regain some footing and bounces from the previous pullback to the 102.00 area.

For now, it looks like the index could extend the consolidation range amid a broader bearish stance. That being said, a drop below the monthly low at 101.91 (March 23) would open the door for a possible visit to the 2023 low around 100.80 (Feb 2).

On a bigger picture, as long as it remains below the 200-day SMA, today at 106.55, the outlook for the index will remain negative.

DXY daily chart

Spot Dollar Index

Overview
Last price today 102.44
Today Daily Variation 47
today’s daily variation 0.26
today’s daily opening 102.17
Trends
daily SMA20 103.76
daily SMA50 103.48
daily SMA100 104.02
daily SMA200 106.66
levels
previous daily high 102.78
previous daily low 102.07
Previous Weekly High 103.96
previous weekly low 101.92
Previous Monthly High 105.36
Previous monthly minimum 100.81
Fibonacci daily 38.2 102.34
Fibonacci 61.8% daily 102.51
Daily Pivot Point S1 101.9
Daily Pivot Point S2 101.63
Daily Pivot Point S3 101.19
Daily Pivot Point R1 102.61
Daily Pivot Point R2 103.05
Daily Pivot Point R3 103.32

Source: Fx Street

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