USD Index Price Analysis: The 200-day SMA near 103.20 holds the downside


  • DXY comes under pressure after hitting fresh tops near 103.70.
  • The 200-day SMA near 103.20 underpins the index so far.

DXY faces extra selling pressure and revisits the 103.15/10 band at the beginning of the week.

In spite of Monday’s corrective move, the index maintains the bullish view well in place with the immediate hurdle now emerging at the May top of 104.69 (May 31) ahead of the 2023 peak of 105.88 (March 8).

It is worth noting that this area of monthly highs appears reinforced by the proximity of the key 200-day SMA, today at 103.18.

Looking at the broader picture, a convincing breakout of the 200-day SMA should shift the outlook for the index to a more constructive one.

DXY daily chart

Dollar Index Spot

Overview
Today last price 103.24
Today Daily Change 33
Today Daily Change % -0.18
Today daily open 103.43
 
Trends
Daily SMA20 102.38
Daily SMA50 102.19
Daily SMA100 102.36
Daily SMA200 103.16
 
Levels
Previous Daily High 103.68
Previous Daily Low 103.22
Previous Weekly High 103.68
Previous Weekly Low 102.77
Previous Monthly High 103.57
Previous Monthly Low 99.57
Daily Fibonacci 38.2% 103.51
Daily Fibonacci 61.8% 103.4
Daily Pivot Point S1 103.21
Daily Pivot Point S2 102.99
Daily Pivot Point S3 102.75
Daily Pivot Point R1 103.67
Daily Pivot Point R2 103.9
Daily Pivot Point R3 104.13

 

 

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