USD Index Price Analysis: Extra range bound in store

The index maintains the choppiness unchanged this week.
Further side-lined trading is likely in the short term.

Pablo Piovano FXStreet

DXY reverses Thursday’s decline to weekly lows and regains the area well north of the 103.00 barrier on Friday.

The recent price action leaves the door open to the continuation of the consolidative phase for the time being. Against that, the upper end of the range appears capped by the vicinity of the 104.00 mark, while weekly lows near 102.60 seem to emerge as a decent initial contention.

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.43
Today Daily Change	61
Today Daily Change %	0.21
Today daily open	103.21

Trends
Daily SMA20	102.33
Daily SMA50	103.5
Daily SMA100	106.17
Daily SMA200	106.71

Levels
Previous Daily High	103.56
Previous Daily Low	102.64
Previous Weekly High	103.01
Previous Weekly Low	100.81
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	102.99
Daily Fibonacci 61.8%	103.21
Daily Pivot Point S1	102.71
Daily Pivot Point S2	102.22
Daily Pivot Point S3	101.79
Daily Pivot Point R1	103.64
Daily Pivot Point R2	104.06
Daily Pivot Point R3	104.56

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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