USD Index Price Analysis: Losses could accelerate below 102.00

DXY extends the rebound to 103.00 and above.
Further downside likely on a breach of 102.00.

Pablo Piovano FXStreet

DXY adds to Thursday’s gains and reclaims the area beyond 103.00 the figure at the end of the week.

Despite the ongoing rebound, the index remains under pressure. That said, there is the palpable probability that a deeper pullback could drag DXY to the area of lows seen in April and May around 101.00 once the June low of 101.92 (June 22) is cleared. Dow from here emerges the 2023 low around 100.80 recorded on April 14.

Looking at the broader picture, while below the 200-day SMA at 105.10 the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.88
Today Daily Change	79
Today Daily Change %	0.47
Today daily open	102.4

Trends
Daily SMA20	103.37
Daily SMA50	102.66
Daily SMA100	103.08
Daily SMA200	104.84

Levels
Previous Daily High	102.47
Previous Daily Low	101.92
Previous Weekly High	103.76
Previous Weekly Low	102.01
Previous Monthly High	104.7
Previous Monthly Low	101.03
Daily Fibonacci 38.2%	102.26
Daily Fibonacci 61.8%	102.13
Daily Pivot Point S1	102.06
Daily Pivot Point S2	101.71
Daily Pivot Point S3	101.51
Daily Pivot Point R1	102.61
Daily Pivot Point R2	102.81
Daily Pivot Point R3	103.16

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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