USD Index Price Analysis: Immediately to the upside emerges 103.60

DXY comes under pressure and disputes the 103.00 support.
Bulls now target the July high at 103.57 (July 6).

Pablo Piovano FXStreet

The upside momentum in the greenback appears somewhat dented and motivates DXY to give away part of the recent gains and recede to the 103.00 region on Wednesday.

In the meantime, the index maintains the bullish view well in place with the immediate hurdle now emerging at the August top of 103.45 (August 14) just ahead of the July peak of 103.57 (July 6).

It is worth noting that this area of monthly highs appears reinforced by the key 200-day SMA, today at 103.23.

Looking at the broader picture, while below the latter, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.12
Today Daily Change	33
Today Daily Change %	-0.09
Today daily open	103.21

Trends
Daily SMA20	101.98
Daily SMA50	102.21
Daily SMA100	102.33
Daily SMA200	103.22

Levels
Previous Daily High	103.28
Previous Daily Low	102.82
Previous Weekly High	102.91
Previous Weekly Low	101.82
Previous Monthly High	103.57
Previous Monthly Low	99.57
Daily Fibonacci 38.2%	103.1
Daily Fibonacci 61.8%	102.99
Daily Pivot Point S1	102.92
Daily Pivot Point S2	102.64
Daily Pivot Point S3	102.46
Daily Pivot Point R1	103.39
Daily Pivot Point R2	103.56
Daily Pivot Point R3	103.85

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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