USD Index Price Analysis: Risks further weakness near term

DXY keeps the tight range amidst steady downside pressure.
Extra losses are likely on a breach of the 102.00 mark.

Pablo Piovano FXStreet

There is no respite for the selling bias in the dollar, as the DXY remains close to multi-week lows near the 102.00 region on Friday.

In case the index breaches the monthly low near 102.00, it could then pave the way for another visit to the monthly low of 101.02 (May 4) ahead of the April low at 100.78 (April 14).

Looking at the broader picture, while below the 200-day SMA at 105.28 the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.03
Today Daily Change	31
Today Daily Change %	-0.12
Today daily open	102.15

Trends
Daily SMA20	103.69
Daily SMA50	102.61
Daily SMA100	103.05
Daily SMA200	105.09

Levels
Previous Daily High	103.38
Previous Daily Low	102.09
Previous Weekly High	104.4
Previous Weekly Low	103.29
Previous Monthly High	104.7
Previous Monthly Low	101.03
Daily Fibonacci 38.2%	102.58
Daily Fibonacci 61.8%	102.89
Daily Pivot Point S1	101.7
Daily Pivot Point S2	101.25
Daily Pivot Point S3	100.41
Daily Pivot Point R1	102.98
Daily Pivot Point R2	103.82
Daily Pivot Point R3	104.27

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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