USD Index Price Analysis: Temporary support comes near 102.90

DXY keeps the bearish note unchanged in the 103.50/40 region.
Further decline could extend to the 100-day SMA near 102.90.

Pablo Piovano FXStreet

DXY accelerates the decline south of the 104.00 barrier and records new multi-session lows near 103.40 on Friday.

Considering the current price action, extra pullbacks should not be ruled out. That said, the continuation of the decline could face the next support at the 100-day SMA at 103.91 ahead of another the interim 55-day SMA at 102.41.

A deeper drop to the May lows near 101.00 is not favoured for the time being.

Looking at the broader picture, while below the 200-day SMA at 105.57, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.46
Today Daily Change	21
Today Daily Change %	-0.09
Today daily open	103.55

Trends
Daily SMA20	103.02
Daily SMA50	102.37
Daily SMA100	102.91
Daily SMA200	105.47

Levels
Previous Daily High	104.5
Previous Daily Low	103.5
Previous Weekly High	104.42
Previous Weekly Low	102.96
Previous Monthly High	104.7
Previous Monthly Low	101.03
Daily Fibonacci 38.2%	103.88
Daily Fibonacci 61.8%	104.12
Daily Pivot Point S1	103.2
Daily Pivot Point S2	102.84
Daily Pivot Point S3	102.19
Daily Pivot Point R1	104.2
Daily Pivot Point R2	104.85
Daily Pivot Point R3	105.21

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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