USD Index Price Analysis: Extra weakness not ruled out near term

The index meets some contention near 101.80 on Monday.
Further decline could still revisit the 101.30 zone in the short term.

Pablo Piovano FXStreet

The index wobbles around the 102.00 zone after bottoming out near 101.80, or multi-month lows, earlier in the session.

In case bears regain the upper hand, the loss of the January low at 101.77 (January 16) should put a potential deeper drop to the May 2022 low at 101.29 (May 30) back on the investors’ radar ahead of the psychological 100.00 yardstick.

In the meantime, while below the 200-day SMA at 106.40 the outlook for the index should remain tilted to the negative side.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.28
Today Daily Change	78
Today Daily Change %	0.11
Today daily open	102.17

Trends
Daily SMA20	103.89
Daily SMA50	104.93
Daily SMA100	107.97
Daily SMA200	106.82

Levels
Previous Daily High	102.66
Previous Daily Low	101.99
Previous Weekly High	103.95
Previous Weekly Low	101.99
Previous Monthly High	106.02
Previous Monthly Low	103.39
Daily Fibonacci 38.2%	102.25
Daily Fibonacci 61.8%	102.41
Daily Pivot Point S1	101.89
Daily Pivot Point S2	101.6
Daily Pivot Point S3	101.22
Daily Pivot Point R1	102.56
Daily Pivot Point R2	102.95
Daily Pivot Point R3	103.24

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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