USD Index Price Analysis: Decent support remains at the 55-day SMA

DXY attempts a moderate recovery although it still trades below 104.00.
The 55-day SMA around 103.50 holds the downside so far.

Pablo Piovano FXStreet

DXY prints a decent rebound following Monday’s multi-week lows in the mid-103.00s.

Despite the daily bounce, the index remains under pressure and appears still supported by recent lows near 103.50, an area coincident with the provisional 55-day SMA. Below the latter, the dollar could slip back to the weekly low at 102.58 (February 14).

In the meantime, while below the 200-day SMA at 106.63, the outlook for the greenback is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.92
Today Daily Change	55
Today Daily Change %	0.29
Today daily open	103.62

Trends
Daily SMA20	104.5
Daily SMA50	103.47
Daily SMA100	104.55
Daily SMA200	106.84

Levels
Previous Daily High	104.39
Previous Daily Low	103.48
Previous Weekly High	105.89
Previous Weekly Low	104.05
Previous Monthly High	105.36
Previous Monthly Low	100.81
Daily Fibonacci 38.2%	103.83
Daily Fibonacci 61.8%	104.05
Daily Pivot Point S1	103.27
Daily Pivot Point S2	102.92
Daily Pivot Point S3	102.36
Daily Pivot Point R1	104.18
Daily Pivot Point R2	104.74
Daily Pivot Point R3	105.09

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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