USD Index Price Analysis: Further losses target 103.00 and below

Pablo Piovano FXStreet

- DXY accelerates its losses and approaches 103.00.

- Immediately to the downside comes the weekly low of 102.93.

DXY retreats for the third session in a row and trades at shouting distance from the key 103.00 support, or three-month lows.

In case bears push harder, the breakdown of the November low of 103.17 should leave the door open to further retracements in the short-term horizon. That said, the next support emerges at the weekly low of 102.93 (August 30) prior to the psychological 100.00 threshold.

In the meantime, while below the key 200-day SMA at 103.61, the outlook for the index is expected to remain bearish.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.31
Today Daily Change	29
Today Daily Change %	-0.17
Today daily open	103.49

Trends
Daily SMA20	105.53
Daily SMA50	105.79
Daily SMA100	104.2
Daily SMA200	103.62

Levels
Previous Daily High	103.97
Previous Daily Low	103.38
Previous Weekly High	105.96
Previous Weekly Low	103.85
Previous Monthly High	107.35
Previous Monthly Low	105.35
Daily Fibonacci 38.2%	103.61
Daily Fibonacci 61.8%	103.75
Daily Pivot Point S1	103.26
Daily Pivot Point S2	103.02
Daily Pivot Point S3	102.66
Daily Pivot Point R1	103.85
Daily Pivot Point R2	104.21
Daily Pivot Point R3	104.44

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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