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14 Mar 2023

USD Index Price Analysis: Decent support remains at the 55-day SMA

  • DXY attempts a moderate recovery although it still trades below 104.00.
  • The 55-day SMA around 103.50 holds the downside so far.

DXY prints a decent rebound following Monday’s multi-week lows in the mid-103.00s.

Despite the daily bounce, the index remains under pressure and appears still supported by recent lows near 103.50, an area coincident with the provisional 55-day SMA. Below the latter, the dollar could slip back to the weekly low at 102.58 (February 14).

In the meantime, while below the 200-day SMA at 106.63, the outlook for the greenback is expected to remain negative.

DXY daily chart

 

Mar 14, 2023

USD/CAD slides to one-week low amid post-US CPI USD downtick, holds above mid-1.3600s

The USD/CAD pair extends its recent pullback from the 1.3860 area, or its highest level since October 2022, and remains under some selling pressure fo
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Mar 14, 2023

USD/JPY rises toward 135.00 after US CPI fueled by Treasury yields

The USD/JPY broke a range after the beginning of the American session and following the release of US CPI numbers. The pair is trading above 134.70, a
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