USD Index Price Analysis: Further Losses Target 103.00 And Below -

USD Index Price Analysis: Further Losses Target 103.00 And Below

Nov 21, 2023Jeremy ParkinsonFinance0

DXY accelerates its losses and approaches 103.00.

Immediately to the downside comes the weekly low of 102.93.

DXY retreats for the third session in a row and trades at shouting distance from the key 103.00 support, or three-month lows.In case bears push harder, the breakdown of the November low of 103.17 should leave the door open to further retracements in the short-term horizon. That said, the next support emerges at the weekly low of 102.93 (August 30) prior to the psychological 100.00 threshold.In the meantime, while below the key 200-day SMA at 103.61, the outlook for the index is expected to remain bearish.
DXY daily chart

Dollar Index Spot

OVERVIEW Today last price 103.31 Today Daily Change 29 Today Daily Change % -0.17 Today daily open 103.49 TRENDS Daily SMA20 105.53 Daily SMA50 105.79 Daily SMA100 104.2 Daily SMA200 103.62 LEVELS Previous Daily High 103.97 Previous Daily Low 103.38 Previous Weekly High 105.96 Previous Weekly Low 103.85 Previous Monthly High 107.35 Previous Monthly Low 105.35 Daily Fibonacci 38.2% 103.61 Daily Fibonacci 61.8% 103.75 Daily Pivot Point S1 103.26 Daily Pivot Point S2 103.02 Daily Pivot Point S3 102.66 Daily Pivot Point R1 103.85 Daily Pivot Point R2 104.21 Daily Pivot Point R3 104.44

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