US Dollar Index Price Analysis: Door open for a visit to 100.00

DXY continues to correct lower after failing just below 103.00.
The continuation of the leg lower could extend to the 100.00 mark.

Pablo Piovano FXStreet

DXY remains on the defensive and keeps fading the move to the boundaries of the 103.00 mark, or 3-year highs, recorded earlier in the week.

The index is already flirting with the Fibo retracement (of the 2017-2018 drop) in the mid-100.00s and further decline is expected to test the psychological triple-mark support.

Despite the corrective downside and looking at the broader picture, the positive outlook in the buck remains unchanged as long as the 200-day SMA, today’s at just below 98.00, underpins.

DXY daily chart

Dollar Index Spot

Overview
Today last price	100.39
Today Daily Change	68
Today Daily Change %	-0.55
Today daily open	100.95

Trends
Daily SMA20	98.7
Daily SMA50	98.55
Daily SMA100	98.07
Daily SMA200	97.98

Levels
Previous Daily High	101.91
Previous Daily Low	100.84
Previous Weekly High	103
Previous Weekly Low	97.45
Previous Monthly High	99.91
Previous Monthly Low	97.44
Daily Fibonacci 38.2%	101.25
Daily Fibonacci 61.8%	101.5
Daily Pivot Point S1	100.56
Daily Pivot Point S2	100.16
Daily Pivot Point S3	99.49
Daily Pivot Point R1	101.63
Daily Pivot Point R2	102.3
Daily Pivot Point R3	102.7

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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