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US Dollar Index Price Analysis: Another visit to the August peak looks likely

  • DXY adds to Friday’s gains and reclaims 106.00 and beyond.
  • Further upside could extend to the 107.00 region in the near term.

DXY keeps the recovery mode well in place beyond the 106.00 mark at the beginning of the week.

The continuation of the upside momentum could extend to the August high near the 107.00 yardstick (August 5). Further north, the index could attempt to challenge the weekly high at 107.42 (July 27).

Looking at the broader scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.10.

DXY daily chart

Dollar Index Spot

Overview
Today last price106.23
Today Daily Change79
Today Daily Change %0.52
Today daily open105.68
 
Trends
Daily SMA20106.35
Daily SMA50105.58
Daily SMA100103.58
Daily SMA20099.99
 
Levels
Previous Daily High105.89
Previous Daily Low105.09
Previous Weekly High106.81
Previous Weekly Low104.64
Previous Monthly High109.29
Previous Monthly Low104.69
Daily Fibonacci 38.2%105.58
Daily Fibonacci 61.8%105.4
Daily Pivot Point S1105.22
Daily Pivot Point S2104.76
Daily Pivot Point S3104.42
Daily Pivot Point R1106.01
Daily Pivot Point R2106.35
Daily Pivot Point R3106.81

Author

Pablo Piovano

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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