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USD Index Price Analysis: A challenge of 100.00 looms closer

  • The index remains well under pressure following the FOMC meeting.
  • There is interim support near 100.80 so far, or 10-month lows.

DXY comes under extra selling pressure in the wake of the Fed’s decision on rates and retests the 100.80 region, or multi-month lows on Thursday.

In the near term, further losses appear in the pipeline while below the 3-month resistance line near 102.45. If the index manages to clear this region it could accelerate gains to the provisional 55-day SMA, today at 104.02.

Below this line, the dollar is expected to keep the short-term bearish bias unchanged and with the immediate target at the psychological 100.00 support.

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price101.1
Today Daily Change44
Today Daily Change %-0.05
Today daily open101.15
 
Trends
Daily SMA20102.46
Daily SMA50103.72
Daily SMA100106.7
Daily SMA200106.7
 
Levels
Previous Daily High102.19
Previous Daily Low101.04
Previous Weekly High102.44
Previous Weekly Low101.5
Previous Monthly High105.63
Previous Monthly Low101.5
Daily Fibonacci 38.2%101.47
Daily Fibonacci 61.8%101.75
Daily Pivot Point S1100.73
Daily Pivot Point S2100.31
Daily Pivot Point S399.57
Daily Pivot Point R1101.88
Daily Pivot Point R2102.61
Daily Pivot Point R3103.03

Author

Pablo Piovano

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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