US Dollar Index Price Analysis: Losses could accelerate below 104.60
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- DXY revisits the sub-105.00 region once again on Thursday.
- A drop below 104.60 opens the door to extra losses.
The pair currently trades last at 105.02.
The previous day high was 106.36 while the previous day low was 104.64. The daily 38.2% Fib levels comes at 105.3, expected to provide resistance. Similarly, the daily 61.8% fib level is at 105.7, expected to provide resistance.
DXY remains well on the defensive and puts the 105.00 support under further pressure on Thursday.
If the selling bias picks up extra pace, the dollar risks a deeper pullback to, initially, the August low at 104.63 (August 10), just ahead of the 6-month support line, today near 104.50.
Looking at the broader scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 99.98.
Technical Levels: Supports and Resistances
EURUSD currently trading at 105.02 at the time of writing. Pair opened at 105.23 and is trading with a change of -0.2 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 105.02 |
| 1 | Today Daily Change | 60.00 |
| 2 | Today Daily Change % | -0.20 |
| 3 | Today daily open | 105.23 |
The pair is trading below its 20 Daily moving average @ 106.65, below its 50 Daily moving average @ 105.45 , above its 100 Daily moving average @ 103.45 and above its 200 Daily moving average @ 99.88
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 106.65 |
| 1 | Daily SMA50 | 105.45 |
| 2 | Daily SMA100 | 103.45 |
| 3 | Daily SMA200 | 99.88 |
The previous day high was 106.36 while the previous day low was 104.64. The daily 38.2% Fib levels comes at 105.3, expected to provide resistance. Similarly, the daily 61.8% fib level is at 105.7, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 104.46, 103.68, 102.73
- Pivot resistance is noted at 106.19, 107.14, 107.91
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 106.36 |
| Previous Daily Low | 104.64 |
| Previous Weekly High | 107.43 |
| Previous Weekly Low | 105.54 |
| Previous Monthly High | 109.29 |
| Previous Monthly Low | 104.69 |
| Daily Fibonacci 38.2% | 105.30 |
| Daily Fibonacci 61.8% | 105.70 |
| Daily Pivot Point S1 | 104.46 |
| Daily Pivot Point S2 | 103.68 |
| Daily Pivot Point S3 | 102.73 |
| Daily Pivot Point R1 | 106.19 |
| Daily Pivot Point R2 | 107.14 |
| Daily Pivot Point R3 | 107.91 |
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