DXY Technical Analysis: Increasing odds for a test of peaks above 96.00

DXY is gathering further traction at the end of the week and is now trading at either side of the 96.00 milestone, or fresh weekly peaks.
Immediate target remains the lower 96.00s, where align tops seen earlier in the month. Reinforcing this resistance area lies a Fibo retracement of the 2017-2018 drop at 96.04
The greenback is also eroding the short-term resistance line, today at 95.99, and a breakout of this area on a convincing fashion is needed to allow for extra gains and a potential visit to YTD highs in the 97.00 neighbourhood.

Pablo Piovano FXStreet

DXY daily chart

Dollar Index Spot

Overview:
    Last Price: 95.95
    Daily change: -3.0 pips
    Daily change: -0.0313%
    Daily Open: 95.98
Trends:
    Daily SMA20: 95.22
    Daily SMA50: 95.24
    Daily SMA100: 94.91
    Daily SMA200: 92.83
Levels:
    Daily High: 96
    Daily Low: 95.48
    Weekly High: 96.16
    Weekly Low: 94.95
    Monthly High: 95.74
    Monthly Low: 93.81
    Daily Fibonacci 38.2%: 95.8
    Daily Fibonacci 61.8%: 95.68
    Daily Pivot Point S1: 95.64
    Daily Pivot Point S2: 95.3
    Daily Pivot Point S3: 95.12
    Daily Pivot Point R1: 96.16
    Daily Pivot Point R2: 96.34
    Daily Pivot Point R3: 96.68

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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