USD Index Price Analysis: Further range bound appears in store near term

DXY regains the upside and advances past the 102.00 yardstick.
Extra consolidation around 102.00 seems likely in the short term.

Pablo Piovano FXStreet

DXY fades Tuesday’s downtick and reclaims the area above the 102.00 mark on Wednesday.

The index so far keeps the erratic performance this week. The resumption of the uptrend should face initial hurdle at the April high just above 103.00 (April 3), while bouts of weakness remain underpinned by the sub-101.00 region.

Looking at the broader picture, while below the 200-day SMA, today at 106.27, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.1
Today Daily Change	52
Today Daily Change %	0.35
Today daily open	101.74

Trends
Daily SMA20	102.16
Daily SMA50	103.4
Daily SMA100	103.48
Daily SMA200	106.33

Levels
Previous Daily High	102.14
Previous Daily Low	101.64
Previous Weekly High	102.76
Previous Weekly Low	100.79
Previous Monthly High	105.89
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	101.83
Daily Fibonacci 61.8%	101.95
Daily Pivot Point S1	101.54
Daily Pivot Point S2	101.34
Daily Pivot Point S3	101.04
Daily Pivot Point R1	102.04
Daily Pivot Point R2	102.34
Daily Pivot Point R3	102.54

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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