USD Index Price Analysis: The 102.80 region caps the upside so far

DXY breaches the 102.00 support in the wake of US CPI.
Bullish attempts remain limited by the 102.80 region, or monthly highs.

Pablo Piovano FXStreet

DXY comes under intense selling pressure and breaks below the 102.00 support to rebound soon afterwards on Thursday.

The index appears to have embarked on a consolidative phase for the time being. Next on the upside emerges the so far monthly top of 102.84 (August 3), while the breakout of this level exposes a probable move to the key 200-day SMA at 103.37 prior to the July high of 103.57 (July 3).

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

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.24
Today Daily Change	77
Today Daily Change %	-0.25
Today daily open	102.5

Trends
Daily SMA20	101.36
Daily SMA50	102.29
Daily SMA100	102.32
Daily SMA200	103.29

Levels
Previous Daily High	102.58
Previous Daily Low	102.29
Previous Weekly High	102.84
Previous Weekly Low	101.53
Previous Monthly High	103.57
Previous Monthly Low	99.57
Daily Fibonacci 38.2%	102.4
Daily Fibonacci 61.8%	102.47
Daily Pivot Point S1	102.34
Daily Pivot Point S2	102.17
Daily Pivot Point S3	102.05
Daily Pivot Point R1	102.62
Daily Pivot Point R2	102.75
Daily Pivot Point R3	102.91

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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