USD Index Price Analysis: Immediately to the downside comes 103.40

Pablo Piovano FXStreet

The index sheds further ground and retreats to multi-month lows.
Further weakness could force the dollar to test the 103.40 zone.

DXY loses ground for the third session in a row and re-visits the 104.30 area on Friday.

The continuation of the selling pressure could motivate the dollar to accelerate losses and challenge the weekly low at 103.67 (June 27) ahead of another weekly low at 103.41 (June 16).

Below the 200-day SMA at 105.51, the dollar’s outlook should remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.45
Today Daily Change	50
Today Daily Change %	-0.24
Today daily open	104.7

Trends
Daily SMA20	106.48
Daily SMA50	109.45
Daily SMA100	109.21
Daily SMA200	106

Levels
Previous Daily High	106.02
Previous Daily Low	104.64
Previous Weekly High	108
Previous Weekly Low	105.63
Previous Monthly High	113.15
Previous Monthly Low	105.32
Daily Fibonacci 38.2%	105.17
Daily Fibonacci 61.8%	105.49
Daily Pivot Point S1	104.22
Daily Pivot Point S2	103.73
Daily Pivot Point S3	102.83
Daily Pivot Point R1	105.6
Daily Pivot Point R2	106.51
Daily Pivot Point R3	106.99

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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