USD Index Price Analysis: Further losses on the cards below 103.15

The index extends the bounce in the second half of the week.
The 3-month resistance line near 103.15 caps the upside.

Pablo Piovano FXStreet

DXY advances for the second consecutive session and challenges the key hurdle at the 102.00 mark on Friday.

Despite the rebound, the index remains well under pressure and a sustainable breach of the 101.50 level should accelerate losses to, initially, the May 2022 low around 101.30 (May 30) prior to the psychological 100.00 yardstick.

On the upside, the 3-month resistance line around 103.15 continues to limit occasional gains. Below this line, the dollar is expected to keep the short-term bearish bias unchanged.

In the longer run, while below the 200-day SMA at 106.47, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	101.99
Today Daily Change	36
Today Daily Change %	0.18
Today daily open	101.81

Trends
Daily SMA20	102.9
Daily SMA50	104.09
Daily SMA100	107.13
Daily SMA200	106.75

Levels
Previous Daily High	102.18
Previous Daily Low	101.5
Previous Weekly High	102.9
Previous Weekly Low	101.51
Previous Monthly High	106.02
Previous Monthly Low	103.39
Daily Fibonacci 38.2%	101.92
Daily Fibonacci 61.8%	101.76
Daily Pivot Point S1	101.48
Daily Pivot Point S2	101.16
Daily Pivot Point S3	100.81
Daily Pivot Point R1	102.16
Daily Pivot Point R2	102.51
Daily Pivot Point R3	102.84

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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