USD Index Price Analysis: Immediate barrier emerges just above 102.00

DXY gathers further upside traction and retests 101.80/85.
Further upside targets the weekly high past 102.00.

Pablo Piovano FXStreet

DXY maintains the optimism well in place and advances for the third session in a row at the beginning of the week.

The index appears poised to extend the ongoing multi-session recovery for the time being. Against that, the surpass of the weekly top of 102.04 (July 28) should prompt the index to embark on a probable visit to the transitory 100-day and 55-day SMAs at 102.40 and 102.56, respectively.

Once this region is cleared, it should alleviate the downside bias in the dollar and allow for extra gains.

Looking at the broader picture, while below the 200-day SMA at 103.73 the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	101.78
Today Daily Change	27
Today Daily Change %	0.08
Today daily open	101.7

Trends
Daily SMA20	101.39
Daily SMA50	102.55
Daily SMA100	102.43
Daily SMA200	103.52

Levels
Previous Daily High	102.05
Previous Daily Low	101.35
Previous Weekly High	102.05
Previous Weekly Low	100.55
Previous Monthly High	104.5
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	101.62
Daily Fibonacci 61.8%	101.78
Daily Pivot Point S1	101.35
Daily Pivot Point S2	101
Daily Pivot Point S3	100.65
Daily Pivot Point R1	102.05
Daily Pivot Point R2	102.39
Daily Pivot Point R3	102.74

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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