USD Index Price Analysis: There is a minor support at 102.58

DXY remains well on the defensive and threatens 103.00.
Further losses could see the weekly low at 102.58 revisited.

Pablo Piovano FXStreet

DXY adds to the ongoing decline and puts the 103.00 region to the test on Tuesday.

The bearish mood appears unabated for the time being. Against that, there is a minor support at the weekly low at 102.58 (February 14), while the loss of this region could spark a deeper pullback to the 2023 low near 101.80 (February 2).

Looking at the broader picture, while below the 200-day SMA, today at 106.62, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.11
Today Daily Change	50
Today Daily Change %	-0.17
Today daily open	103.29

Trends
Daily SMA20	104.56
Daily SMA50	103.45
Daily SMA100	104.34
Daily SMA200	106.83

Levels
Previous Daily High	103.96
Previous Daily Low	103.28
Previous Weekly High	105.11
Previous Weekly Low	103.44
Previous Monthly High	105.36
Previous Monthly Low	100.81
Daily Fibonacci 38.2%	103.54
Daily Fibonacci 61.8%	103.7
Daily Pivot Point S1	103.06
Daily Pivot Point S2	102.82
Daily Pivot Point S3	102.37
Daily Pivot Point R1	103.75
Daily Pivot Point R2	104.2
Daily Pivot Point R3	104.43

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD struggles to regain momentum in the low1.1600s

EUR/USD is giving some signs of life in the aftermath of two severe days of losses on Wednesday, reclaiming the 1.1600 hurdle and above on the back of the resurgence of a mild selling bias around the US Dollar. Moving forward, the usual US weekly Claims will take centre stage on Thursday ahead of Friday’s crucial NFP data.

GBP/USD tests key moving averages as growth downgrade weighs

GBP/USD was nearly flat on Wednesday, edging up 0.08% to settle around 1.3370 in a quiet session. The pair has fallen sharply from its late-January high near 1.3870 and is now testing the 200-day Exponential Moving Average, with this week's one-week forex heatmap showing Pound Sterling as one of the worst performers against the US Dollar, down about 1.4% on the week.

Gold recovers modestly despite intensifying Middle East crisis

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.