USD Index Price Analysis: Losses could accelerate below 102.60

The index remains on the defensive in the first half of the week.
Next on the downside emerges the 102.60 zone.

Pablo Piovano FXStreet

DXY adds to the bearish note recorded on Monday and puts the 103.00 support level to the test on Tuesday.

The recent price action leaves the door open to the continuation of the consolidative phase for the time being. However, a drop below last week’s low at 102.64 (February 9) should open the door to a deeper pullback in the short term to, initially, the 3-month support line, today near 102.35.

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.01
Today Daily Change	35
Today Daily Change %	-0.26
Today daily open	103.28

Trends
Daily SMA20	102.45
Daily SMA50	103.42
Daily SMA100	105.97
Daily SMA200	106.73

Levels
Previous Daily High	103.83
Previous Daily Low	103.24
Previous Weekly High	103.96
Previous Weekly Low	102.64
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	103.47
Daily Fibonacci 61.8%	103.61
Daily Pivot Point S1	103.06
Daily Pivot Point S2	102.85
Daily Pivot Point S3	102.47
Daily Pivot Point R1	103.66
Daily Pivot Point R2	104.05
Daily Pivot Point R3	104.26

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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