USD Index Price Analysis: A deeper drop emerges below 103.00

Pablo Piovano FXStreet

- DXY puts the 103.00 region to the test once again on Monday.

- The loss of this area could expose further retracements.

DXY retreats for the third consecutive session and approaches the area of three-month lows near 103.00 at the beginning of the week.

In case sellers push harder, the breakdown of the November low of 103.17 should leave the door open to extra losses in the near term. That said, the loss of the weekly low of 102.93 (August 30) could put a potential visit to the psychological 100.00 mark back on the radar.

In the meantime, while below the key 200-day SMA at 103.61, the outlook for the index is expected to remain bearish.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.32
Today Daily Change	31
Today Daily Change %	-0.07
Today daily open	103.39

Trends
Daily SMA20	104.96
Daily SMA50	105.68
Daily SMA100	104.23
Daily SMA200	103.62

Levels
Previous Daily High	103.84
Previous Daily Low	103.35
Previous Weekly High	104.22
Previous Weekly Low	103.18
Previous Monthly High	107.35
Previous Monthly Low	105.35
Daily Fibonacci 38.2%	103.54
Daily Fibonacci 61.8%	103.66
Daily Pivot Point S1	103.21
Daily Pivot Point S2	103.04
Daily Pivot Point S3	102.73
Daily Pivot Point R1	103.7
Daily Pivot Point R2	104.02
Daily Pivot Point R3	104.19

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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