USD Index Price Analysis: Decent contention emerges at 103.50

DXY surrenders part of Wednesday’s sharp uptick north of 105.00.
The March low near 103.50 should hold the downside so far.

Pablo Piovano FXStreet

DXY gives away some of Wednesday’s sharp gains and retreats to the 104.50 region on Thursday.

If bulls regain the upper hand, then the index could dispute the so far 2023 high at 105.88 (March 8) in the short-term horizon ahead of the key 200-day SMA, today at 106.64.

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

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.41
Today Daily Change	49
Today Daily Change %	-0.32
Today daily open	104.75

Trends
Daily SMA20	104.57
Daily SMA50	103.46
Daily SMA100	104.43
Daily SMA200	106.84

Levels
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 Low	100.81
Daily Fibonacci 38.2%	104.47
Daily Fibonacci 61.8%	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

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.

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