USD Index Price Analysis: Another test of 100.00 now looks likely

DXY keeps the bearish note unchanged below 101.00.
A deeper pullback could revisit the key 100.00 zone.

Pablo Piovano FXStreet

DXY drops for the third straight session and breaches the key support at 101.00 the figure to print new multi-day lows.

The continuation of the downward bias could initially drag the index to the 100.00 neighbourhood. The loss of the latter should leave the dollar vulnerable to a potential test of the 2023 low near 99.50 (July 14).

Looking at the broader picture, while below the 200-day SMA at 103.83 the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	100.65
Today Daily Change	55
Today Daily Change %	-0.38
Today daily open	101.03

Trends
Daily SMA20	101.54
Daily SMA50	102.62
Daily SMA100	102.49
Daily SMA200	103.62

Levels
Previous Daily High	101.44
Previous Daily Low	100.86
Previous Weekly High	101.19
Previous Weekly Low	99.57
Previous Monthly High	104.5
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	101.08
Daily Fibonacci 61.8%	101.22
Daily Pivot Point S1	100.78
Daily Pivot Point S2	100.54
Daily Pivot Point S3	100.21
Daily Pivot Point R1	101.36
Daily Pivot Point R2	101.68
Daily Pivot Point R3	101.93

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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