USD Index Price Analysis: Extra losses could test 104.63

The index remains well on the defensive and breaks below 105.00.
The continuation of the downside could drop to the August low.

Pablo Piovano FXStreet

DXY extends the leg lower to the area below the 105.00 level for the first time since mid-August.

The continuation of the selling pressure could motivate the dollar to shed further ground and challenge the August low at 104.63 (August 10) in the short-term horizon.

Below the 200-day SMA at 105.51, the dollar’s outlook should remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.98
Today Daily Change	104
Today Daily Change %	-0.96
Today daily open	106

Trends
Daily SMA20	106.57
Daily SMA50	109.56
Daily SMA100	109.23
Daily SMA200	105.96

Levels
Previous Daily High	107.2
Previous Daily Low	105.78
Previous Weekly High	108
Previous Weekly Low	105.63
Previous Monthly High	113.15
Previous Monthly Low	105.32
Daily Fibonacci 38.2%	106.32
Daily Fibonacci 61.8%	106.66
Daily Pivot Point S1	105.45
Daily Pivot Point S2	104.9
Daily Pivot Point S3	104.03
Daily Pivot Point R1	106.87
Daily Pivot Point R2	107.75
Daily Pivot Point R3	108.29

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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