USD Index Price Analysis: Further gains in store near term

DXY maintains the weekly bounce well in place on Wednesday.
Further advance is expected to challenge the 103.00 zone.

Pablo Piovano FXStreet

DXY advances for the fourth session in a row and retests weekly highs around 102.70 on Wednesday.

Immediately to the upside, the index faces the next hurdle at the 103.00 round level, which appears reinforced by the proximity of the temporary 100-day SMA. The index could see its downside pressure mitigated once this area is cleared on a convincing fashion.

Looking at the broader picture, while below the 200-day SMA at 105.18 the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.68
Today Daily Change	21
Today Daily Change %	0.14
Today daily open	102.54

Trends
Daily SMA20	103.55
Daily SMA50	102.62
Daily SMA100	103.06
Daily SMA200	104.94

Levels
Previous Daily High	102.79
Previous Daily Low	102.32
Previous Weekly High	103.76
Previous Weekly Low	102.01
Previous Monthly High	104.7
Previous Monthly Low	101.03
Daily Fibonacci 38.2%	102.61
Daily Fibonacci 61.8%	102.5
Daily Pivot Point S1	102.31
Daily Pivot Point S2	102.08
Daily Pivot Point S3	101.84
Daily Pivot Point R1	102.78
Daily Pivot Point R2	103.02
Daily Pivot Point R3	103.25

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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