USD Index Price Analysis: The loss of 100.80 exposes a drop to 100.00

DXY adds to Friday’s recovery and approaches the 102.00 barrier.
There are still chances of a breakdown of the 2023 peak near 100.80.

Pablo Piovano FXStreet

DXY extends further Friday’s optimism and looks to retake the 102.00 neighbourhood at the beginning of the week.

Despite the ongoing rebound, the index is expected to remain under pressure for the time being. Against that, the loss of the 2023 low at 100.78 (April 14) should open the door to a deeper decline to, initially, the psychological 100.00 mark.

South from here aligns the late-March 2022 lows near 97.70.

Looking at the broader picture, while below the 200-day SMA, today at 106.33, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	101.66
Today Daily Change	30
Today Daily Change %	0.08
Today daily open	101.58

Trends
Daily SMA20	102.3
Daily SMA50	103.47
Daily SMA100	103.53
Daily SMA200	106.37

Levels
Previous Daily High	101.75
Previous Daily Low	100.79
Previous Weekly High	102.76
Previous Weekly Low	100.79
Previous Monthly High	105.89
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	101.38
Daily Fibonacci 61.8%	101.15
Daily Pivot Point S1	100.99
Daily Pivot Point S2	100.41
Daily Pivot Point S3	100.04
Daily Pivot Point R1	101.95
Daily Pivot Point R2	102.33
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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