US Dollar Index Price Analysis: Additional Pullbacks Continue

  • The DXY extends its decline south of the 102.00 support.
  • The next support level to watch is at the monthly low near 101.90.

The US dollar index (DXY) adds to Tuesday’s losses and approaches the 102.50 area on Tuesday’s session.

If the bulls fail to regain control of sentiment – ideally in the very short term – the index could spin out of control and challenge recent lows in the sub-102.00 area (March 23). Further losses from here could put a visit to the lows around 100.80 in 2023 (Feb 2) back on investors’ radar.

On a bigger picture, as long as it holds below the 200-day SMA, today at 106.58, the outlook for the index is expected to remain negative.

DXY daily chart

Spot Dollar Index

Overview
Last price today 102.62
daily change today 23
today’s daily variation -0.22
today’s daily opening 102.85
Trends
daily SMA20 104.12
daily SMA50 103.47
daily SMA100 104.15
daily SMA200 106.74
levels
previous daily high 103.23
previous daily low 102.83
Previous Weekly High 103.96
previous weekly low 101.92
Previous Monthly High 105.36
Previous monthly minimum 100.81
Fibonacci daily 38.2 102.98
Fibonacci 61.8% daily 103.08
Daily Pivot Point S1 102.71
Daily Pivot Point S2 102.57
Daily Pivot Point S3 102.31
Daily Pivot Point R1 103.11
Daily Pivot Point R2 103.37
Daily Pivot Point R3 103.51

Source: Fx Street

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