USD Index Price Analysis: Next support comes at 104.40

Pablo Piovano FXStreet

- DXY extends the leg lower to the area below 105.00.

- The immediate contention emerges near 104.40.

DXY accelerates its losses to new multi-week lows near 104.80 on Monday.

The continuation of the selling impulse appears likely in the very near term. That said, the next support is expected to turn up at the weekly low of 104.42 (September 11), ahead of the temporary 100-day SMA at 103.98.

So far, while above the key 200-day SMA, today at 103.51, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	105.02
Today Daily Change	31
Today Daily Change %	-0.05
Today daily open	105.07

Trends
Daily SMA20	106.23
Daily SMA50	105.65
Daily SMA100	103.96
Daily SMA200	103.51

Levels
Previous Daily High	106.22
Previous Daily Low	104.94
Previous Weekly High	107.11
Previous Weekly Low	104.94
Previous Monthly High	107.35
Previous Monthly Low	105.35
Daily Fibonacci 38.2%	105.43
Daily Fibonacci 61.8%	105.73
Daily Pivot Point S1	104.6
Daily Pivot Point S2	104.13
Daily Pivot Point S3	103.31
Daily Pivot Point R1	105.88
Daily Pivot Point R2	106.69
Daily Pivot Point R3	107.16

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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