USD Index Price Analysis: Next on the downside comes 102.00

DXY picks up pace and rebounds from three-month lows near 102.50.
The next target emerges at the 200-day SMA near 103.60.

Pablo Piovano FXStreet

DXY leaves behind four consecutive sessions of losses and manages to regain some composure after bottoming out near 102.50 earlier on Wednesday.

While further weakness in the index remains on the cards in the very near term, occasional bullish attempts are expected to meet initial resistance around the key 200-day SMA, today at 103.59.

On the downside, the loss of the November low of 102.46 (November 29) should pave the way for a deeper drop to, initially, the round level at 102.00.

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

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.81
Today Daily Change	47
Today Daily Change %	0.06
Today daily open	102.75

Trends
Daily SMA20	104.62
Daily SMA50	105.6
Daily SMA100	104.25
Daily SMA200	103.61

Levels
Previous Daily High	103.32
Previous Daily Low	102.61
Previous Weekly High	104.22
Previous Weekly Low	103.18
Previous Monthly High	107.35
Previous Monthly Low	105.35
Daily Fibonacci 38.2%	102.88
Daily Fibonacci 61.8%	103.05
Daily Pivot Point S1	102.46
Daily Pivot Point S2	102.18
Daily Pivot Point S3	101.76
Daily Pivot Point R1	103.17
Daily Pivot Point R2	103.6
Daily Pivot Point R3	103.88

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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