USD Index Price Analysis: Strong support remains around 101.00

DXY extends the weekly move higher and retests 101.80.
The index appears well supported by the 101.00 region so far.

Pablo Piovano FXStreet

DXY picks up further pace and challenges once again the 101.80 region on, or weekly peaks, on Wednesday.

A more serious bullish attempt should clear the monthly high at 102.40 (May 2) to mitigate the downside pressure and allow for a potential advance to the provisional 55- and 100-day SMAs at 102.81 and 102.98, respectively.

On the downside, there is a formidable contention around the 101.00 neighbourhood for the time being.

Looking at the broader picture, while below the 200-day SMA, today at 105.89, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	101.71
Today Daily Change	26
Today Daily Change %	0.06
Today daily open	101.65

Trends
Daily SMA20	101.62
Daily SMA50	102.68
Daily SMA100	103.02
Daily SMA200	105.97

Levels
Previous Daily High	101.84
Previous Daily Low	101.36
Previous Weekly High	102.4
Previous Weekly Low	101.03
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	101.66
Daily Fibonacci 61.8%	101.54
Daily Pivot Point S1	101.4
Daily Pivot Point S2	101.14
Daily Pivot Point S3	100.92
Daily Pivot Point R1	101.88
Daily Pivot Point R2	102.1
Daily Pivot Point R3	102.35

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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