USD Index Price Analysis: Extra losses might still be in store

DXY bounces off 15-month lows in the 99.60/55 band.
Extra downside appears favoured for the time being.

Pablo Piovano FXStreet

DXY manages to regain some composure and leaves behind recent lows in the vicinity of 99.60 on Friday.

The continuation of the decline of the dollar looks the most likely scenario for the time being. Against that, the breach of the current 2023 low at 99.57 (July 14) could spark a deeper pullback to the weekly low of 97.68 (March 30 2022).

Looking at the broader picture, while below the 200-day SMA at 104.37, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	99.91
Today Daily Change	42
Today Daily Change %	0.16
Today daily open	99.75

Trends
Daily SMA20	102.52
Daily SMA50	102.91
Daily SMA100	102.93
Daily SMA200	104.15

Levels
Previous Daily High	100.61
Previous Daily Low	99.74
Previous Weekly High	103.57
Previous Weekly Low	102.22
Previous Monthly High	104.5
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	100.96
Daily Fibonacci 61.8%	101.23
Daily Pivot Point S1	100.17
Daily Pivot Point S2	99.76
Daily Pivot Point S3	99
Daily Pivot Point R1	101.34
Daily Pivot Point R2	102.09
Daily Pivot Point R3	102.51

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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