USD Index Price Analysis: Near-term consolidation on the cards

DXY extends the weekly consolidative mood around 103.00.
The resumption of the buying interest could challenge 103.50.

Pablo Piovano FXStreet

DXY alternates gains with losses amidst the weekly range bound theme around the 103.00 zone on Wednesday.

While further consolidation seems probable in the very near term, the continuation of the uptrend in place since mid-June could challenge the weekly high at 103.54 (June 30) prior to the May high at 104.69 (May 31), which appears reinforced by the 200-day SMA.

Looking at the broader picture, while below the 200-day SMA at 104.74, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103
Today Daily Change	35
Today Daily Change %	-0.11
Today daily open	103.11

Trends
Daily SMA20	102.92
Daily SMA50	102.85
Daily SMA100	103.04
Daily SMA200	104.46

Levels
Previous Daily High	103.11
Previous Daily Low	102.88
Previous Weekly High	103.55
Previous Weekly Low	102.32
Previous Monthly High	104.5
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	103.03
Daily Fibonacci 61.8%	102.97
Daily Pivot Point S1	102.95
Daily Pivot Point S2	102.8
Daily Pivot Point S3	102.72
Daily Pivot Point R1	103.19
Daily Pivot Point R2	103.27
Daily Pivot Point R3	103.42

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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