US Dollar Index Price Analysis: Another test of the 2022 high appears in store… soon

DXY keeps navigating in the upper end of the range just below 110.00.
Further upside could well see the YTD peak past 110.00 revisited.

Pablo Piovano FXStreet

DXY trades with modest gains in the 109.70/80 band on Tuesday.

The short-term bullish view in the dollar remains well in place for the time being and propped up by the 7-month support line, today around 105.80.

Still on the upside, the surpass of the recent top at 110.27 (September 5) could face the next barrier at the weekly highs at 111.90 (June 6 2002) and 113.35 (May 24 2002).

Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 101.13.

However, the current overbought conditions of the index could trigger some corrective downside, which should be seen as a buying opportunity.

DXY daily chart

Dollar Index Spot

Overview
Today last price	109.61
Today Daily Change	46
Today Daily Change %	-0.18
Today daily open	109.81

Trends
Daily SMA20	107.81
Daily SMA50	107
Daily SMA100	105.02
Daily SMA200	101.02

Levels
Previous Daily High	110.27
Previous Daily Low	109.71
Previous Weekly High	110
Previous Weekly Low	108.27
Previous Monthly High	109.48
Previous Monthly Low	104.64
Daily Fibonacci 38.2%	109.93
Daily Fibonacci 61.8%	110.06
Daily Pivot Point S1	109.59
Daily Pivot Point S2	109.37
Daily Pivot Point S3	109.03
Daily Pivot Point R1	110.15
Daily Pivot Point R2	110.49
Daily Pivot Point R3	110.71

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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