USD Index Price Analysis: Rising bets from a break below 101.00

DXY starts the week on the defensive near 101.00.
The breakout of 101.00 could open the door to extra losses.

Pablo Piovano FXStreet

DXY faces some extra downside pressure and puts the 101.00 support to the test at the beginning of the week.

The weekly low at 101.01 represents the next significant support for the current decline (April 26). Losing this area might pave the way to a deeper decline to the 2023 low at 100.78. (April 14).

Looking at the broader picture, while below the 200-day SMA, today at 105.93, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	101.06
Today Daily Change	29
Today Daily Change %	-0.22
Today daily open	101.28

Trends
Daily SMA20	101.7
Daily SMA50	102.81
Daily SMA100	103.07
Daily SMA200	106.04

Levels
Previous Daily High	101.79
Previous Daily Low	101.12
Previous Weekly High	102.4
Previous Weekly Low	101.03
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	101.37
Daily Fibonacci 61.8%	101.53
Daily Pivot Point S1	101
Daily Pivot Point S2	100.72
Daily Pivot Point S3	100.33
Daily Pivot Point R1	101.67
Daily Pivot Point R2	102.07
Daily Pivot Point R3	102.34

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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