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- USD Index Price Analysis: There is a minor support below 103.00
USD Index Price Analysis: There is a minor support below 103.00
- DXY trades in an inconclusive fashion near 103.50 on Friday.
- Bouts of weakness could see the index drop below 103.00.
DXY keeps hovering around the mid-103.00s following Thursday’s robust rebound to the 103.70 zone.
The resumption of the selling mood could prompt the index to revisit the key 200-day SMA at 103.05 prior to the weekly low of 102.93 (August 30). Down from here emerges the temporary 100-day and 55-day SMAs at 102.52 and 102.38, respectively.
While above the key 200-day SMA, the outlook for the index is expected to remain constructive.
DXY daily chart
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