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- USD Index Price Analysis: Extra losses likely below 103.39
USD Index Price Analysis: Extra losses likely below 103.39
- The index starts the new year in an erratic fashion.
- The multi-month low at 103.39 emerges as the next support.
DXY gives away most of Tuesday’s strong advance to the boundaries of the 105.00 hurdle and returns to the sub-104.00 region on Wednesday.
The index appears to have moved into a consolidative phase, although the outlook remains tilted to the downside while it remains below the key 200-day SMA at 106.25.
A deeper pullback could revisit the multi-month low at 103.39 (December 30). The loss of this region could leave the dollar vulnerable to further losses in the short-term horizon.
DXY daily chart
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