USD Index Price Analysis: Further south comes 104.85

Pablo Piovano FXStreet

- DXY extends the corrective move to the 105.50 zone.

- The loss of 105.00 exposes a move to the 104.85 level.

DXY retreats for the third consecutive session and revisits the 105.50 zone on Tuesday.

Further decline appears on the cards in the very near term. Against that, the loss of the 105.00 support could put the so-far November low of 104.84 (November 6) to the test prior to the weekly low of 104.42 (September 11), which appears reinforced by the transitory 100-day SMA at 104.17.

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

DXY daily chart

Dollar Index Spot

Overview
Today last price	105.59
Today Daily Change	27
Today Daily Change %	-0.08
Today daily open	105.67

Trends
Daily SMA20	106.06
Daily SMA50	105.87
Daily SMA100	104.15
Daily SMA200	103.61

Levels
Previous Daily High	105.96
Previous Daily Low	105.59
Previous Weekly High	106.01
Previous Weekly Low	104.85
Previous Monthly High	107.35
Previous Monthly Low	105.35
Daily Fibonacci 38.2%	105.73
Daily Fibonacci 61.8%	105.82
Daily Pivot Point S1	105.52
Daily Pivot Point S2	105.37
Daily Pivot Point S3	105.15
Daily Pivot Point R1	105.89
Daily Pivot Point R2	106.1
Daily Pivot Point R3	106.25

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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