USD Index Price Analysis: Another drop below 103.00 is not ruled out

DXY attempts a decent bounce and retakes 103.00 and beyond.
Next on the downside appears the June low near 102.70.

Pablo Piovano FXStreet

Despite the ongoing rebound, DXY remains under pressure around the 103.00 region on Thursday.

In case the index breaches the monthly low near 103.00, it could then pave the way for another visit to the monthly low of 102.66 (June 14) prior to the interim 55-day SMA at 102.56.

Looking at the broader picture, while below the 200-day SMA at 105.32 the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.19
Today Daily Change	46
Today Daily Change %	0.17
Today daily open	103.02

Trends
Daily SMA20	103.76
Daily SMA50	102.61
Daily SMA100	103.05
Daily SMA200	105.15

Levels
Previous Daily High	103.4
Previous Daily Low	102.66
Previous Weekly High	104.4
Previous Weekly Low	103.29
Previous Monthly High	104.7
Previous Monthly Low	101.03
Daily Fibonacci 38.2%	102.94
Daily Fibonacci 61.8%	103.12
Daily Pivot Point S1	102.65
Daily Pivot Point S2	102.28
Daily Pivot Point S3	101.91
Daily Pivot Point R1	103.39
Daily Pivot Point R2	103.77
Daily Pivot Point R3	104.14

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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