- 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 price | 103.04 |
| Today Daily Change | 32 |
| Today Daily Change % | -0.19 |
| Today daily open | 103.24 |
| TRENDS | |
|---|---|
| Daily SMA20 | 104.14 |
| Daily SMA50 | 105.09 |
| Daily SMA100 | 108.12 |
| Daily SMA200 | 106.82 |
| LEVELS | |
|---|---|
| Previous Daily High | 103.48 |
| Previous Daily Low | 103.11 |
| Previous Weekly High | 105.63 |
| Previous Weekly Low | 103.43 |
| Previous Monthly High | 106.02 |
| Previous Monthly Low | 103.39 |
| Daily Fibonacci 38.2% | 103.25 |
| Daily Fibonacci 61.8% | 103.34 |
| Daily Pivot Point S1 | 103.07 |
| Daily Pivot Point S2 | 102.9 |
| Daily Pivot Point S3 | 102.69 |
| Daily Pivot Point R1 | 103.45 |
| Daily Pivot Point R2 | 103.66 |
| Daily Pivot Point R3 | 103.83 |
