US Dollar Index Price Analysis: Prepare for a backtrack to 102.30

DXY meets buying interest around the 103.20 area midweek.
Further downside could see the 102.30 region revisited.

Pablo Piovano FXStreet

DXY regains the smile following three consecutive daily pullbacks.

Despite the ongoing bounce, further retracements remain well on the cards and could now target the next support at 102.35 (May 5 low), where decent contention is expected to emerge.

Looking at the broader picture, the current bullish stance in the index remains supported by the 3-month line around 100.00, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 96.44.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.58
Today Daily Change	58
Today Daily Change %	0.28
Today daily open	103.29

Trends
Daily SMA20	103.06
Daily SMA50	100.71
Daily SMA100	98.47
Daily SMA200	96.41

Levels
Previous Daily High	104.23
Previous Daily Low	103.24
Previous Weekly High	105.01
Previous Weekly Low	103.38
Previous Monthly High	103.94
Previous Monthly Low	98.31
Daily Fibonacci 38.2%	103.62
Daily Fibonacci 61.8%	103.85
Daily Pivot Point S1	102.94
Daily Pivot Point S2	102.59
Daily Pivot Point S3	101.95
Daily Pivot Point R1	103.94
Daily Pivot Point R2	104.58
Daily Pivot Point R3	104.93

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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