USD Index Price Analysis: The loss of 102.00 could expose a deeper drop

DXY adds to Tuesday’s bearish move and confronts 102.00.
Next on the downside emerges the April low near 101.40.

Pablo Piovano FXStreet

DXY remains under pressure and puts the 102.00 region to the test on Wednesday, adding to the negative price action seen in the previous session.

A daily close below the 102.00 mark could open the door to a deeper retracement to, initially, the April low at 101.43 (April 5), while the breach of this level could expose a move to the 2023 low around 100.80 (February 2).

Looking at the broader picture, while below the 200-day SMA, today at 106.42, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.1
Today Daily Change	17
Today Daily Change %	-0.06
Today daily open	102.16

Trends
Daily SMA20	102.74
Daily SMA50	103.5
Daily SMA100	103.67
Daily SMA200	106.45

Levels
Previous Daily High	102.57
Previous Daily Low	102.01
Previous Weekly High	103.06
Previous Weekly Low	101.41
Previous Monthly High	105.89
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	102.22
Daily Fibonacci 61.8%	102.35
Daily Pivot Point S1	101.92
Daily Pivot Point S2	101.69
Daily Pivot Point S3	101.37
Daily Pivot Point R1	102.48
Daily Pivot Point R2	102.8
Daily Pivot Point R3	103.03

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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