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USD Index Price Analysis: Further losses remain on the cards

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  • The index remains under pressure near the 103.00 zone.
  • A deeper decline appears likely on a breach of the 102.90 area.

Price action around the dollar remains subdued and prompts DXY to put the 103.00 support to the test on Thursday.

If the offered stance intensifies, then the index could challenge the so far January low at 102.94 (January 9) in the near term, while a convincing breakdown of this level carries the potential to spark a retracement to, initially, the May 2022 low around 101.30 (May 30) ahead of the psychological 100.00 level.

In the meantime, while below the 200-day SMA at 106.38 the outlook for the index should remain tilted to the negative side.

DXY daily chart

DOLLAR INDEX SPOT

OVERVIEW
Today last price103.04
Today Daily Change32
Today Daily Change %-0.19
Today daily open103.24
TRENDS
Daily SMA20104.14
Daily SMA50105.09
Daily SMA100108.12
Daily SMA200106.82
LEVELS
Previous Daily High103.48
Previous Daily Low103.11
Previous Weekly High105.63
Previous Weekly Low103.43
Previous Monthly High106.02
Previous Monthly Low103.39
Daily Fibonacci 38.2%103.25
Daily Fibonacci 61.8%103.34
Daily Pivot Point S1103.07
Daily Pivot Point S2102.9
Daily Pivot Point S3102.69
Daily Pivot Point R1103.45
Daily Pivot Point R2103.66
Daily Pivot Point R3103.83

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