USD Index Price Analysis: Losses should accelerate below the 200-day SMA

The index succumbs to the selling pressure and breaches 106.00.
A deeper pullback opens the door to the November low near 105.30.

Pablo Piovano FXStreet

DXY keeps the downtrend well and sound in the second half of the week, this time dropping well south of the 106.00 support.

In case the selling pressure accelerates, the US Dollar could shed further ground and dispute the November low at 105.34 (November 15). This area of contention appears underpinned by the proximity of the always relevant 200-day SMA, today at 105.27

While above the 200-day SMA, the outlook for the index should remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	105.75
Today Daily Change	43
Today Daily Change %	-0.37
Today daily open	106.14

Trends
Daily SMA20	107.94
Daily SMA50	110.49
Daily SMA100	109.27
Daily SMA200	105.68

Levels
Previous Daily High	107.23
Previous Daily Low	106.03
Previous Weekly High	107.27
Previous Weekly Low	105.32
Previous Monthly High	113.95
Previous Monthly Low	109.54
Daily Fibonacci 38.2%	106.49
Daily Fibonacci 61.8%	106.77
Daily Pivot Point S1	105.71
Daily Pivot Point S2	105.27
Daily Pivot Point S3	104.51
Daily Pivot Point R1	106.9
Daily Pivot Point R2	107.66
Daily Pivot Point R3	108.1

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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