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USD Index Price Analysis: No changes to the consolidative theme

USD Index Price Analysis: No changes to the consolidative theme

  • DXY comes under pressure amidst choppy price action this week.
  • The loss of 101.00 could open the door to a probable test of the YTD low.

DXY fades part of Tuesday’s acute rebound and return to the 101.40/50 region on Wednesday.

The recent choppy performance in the index seems to have now refocused back on the downside. Against that, DXY could cling to this consolidative theme ahead of a probable drop to the 101.00 zone. The loss of the latter could expose a move to the so far 2023 lows near 100.80 (April 14).

Looking at the broader picture, while below the 200-day SMA, today at 106.12, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price 101.45
Today Daily Change 65
Today Daily Change % -0.41
Today daily open 101.87
 
Trends
Daily SMA20 101.92
Daily SMA50 103.24
Daily SMA100 103.31
Daily SMA200 106.22
 
Levels
Previous Daily High 101.95
Previous Daily Low 101.2
Previous Weekly High 102.23
Previous Weekly Low 101.53
Previous Monthly High 105.89
Previous Monthly Low 101.92
Daily Fibonacci 38.2% 101.66
Daily Fibonacci 61.8% 101.48
Daily Pivot Point S1 101.39
Daily Pivot Point S2 100.92
Daily Pivot Point S3 100.64
Daily Pivot Point R1 102.15
Daily Pivot Point R2 102.43
Daily Pivot Point R3 102.9

 

 

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