USD Index Price Analysis: A challenge of 100.00 looms closer

The index remains well under pressure following the FOMC meeting.
There is interim support near 100.80 so far, or 10-month lows.

Pablo Piovano FXStreet

DXY comes under extra selling pressure in the wake of the Fed’s decision on rates and retests the 100.80 region, or multi-month lows on Thursday.

In the near term, further losses appear in the pipeline while below the 3-month resistance line near 102.45. If the index manages to clear this region it could accelerate gains to the provisional 55-day SMA, today at 104.02.

Below this line, the dollar is expected to keep the short-term bearish bias unchanged and with the immediate target at the psychological 100.00 support.

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	101.1
Today Daily Change	44
Today Daily Change %	-0.05
Today daily open	101.15

Trends
Daily SMA20	102.46
Daily SMA50	103.72
Daily SMA100	106.7
Daily SMA200	106.7

Levels
Previous Daily High	102.19
Previous Daily Low	101.04
Previous Weekly High	102.44
Previous Weekly Low	101.5
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	101.47
Daily Fibonacci 61.8%	101.75
Daily Pivot Point S1	100.73
Daily Pivot Point S2	100.31
Daily Pivot Point S3	99.57
Daily Pivot Point R1	101.88
Daily Pivot Point R2	102.61
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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