USD Index Price Analysis: Topside appears capped near 104.00

The index maintains the erratic activity around 103.00 so far.
The monthly high near 104.00 continues to cap the upside.

Pablo Piovano FXStreet

DXY reverses the recent 2-day retracement and regains the 103.60 region on Wednesday.

The ongoing price action leaves the door open to the continuation of the consolidative note for the time being. Occasional bouts of strength, however, are expected to remain limited by the proximity of the 104.00 zone, or February highs (February 7).

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.52
Today Daily Change	47
Today Daily Change %	0.26
Today daily open	103.25

Trends
Daily SMA20	102.49
Daily SMA50	103.39
Daily SMA100	105.88
Daily SMA200	106.73

Levels
Previous Daily High	103.52
Previous Daily Low	102.54
Previous Weekly High	103.96
Previous Weekly Low	102.64
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	102.92
Daily Fibonacci 61.8%	103.15
Daily Pivot Point S1	102.69
Daily Pivot Point S2	102.13
Daily Pivot Point S3	101.72
Daily Pivot Point R1	103.67
Daily Pivot Point R2	104.08
Daily Pivot Point R3	104.64

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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