US Dollar Index Price Analysis: Decent resistance aligns at 105.00

DXY leaves behind two daily pullbacks in a row.
Further up comes the weekly peak near 105.00.

Pablo Piovano FXStreet

DXY regains the smile and manages to stage quite a moderate bounce to the area well north of the 104.00 mark on Tuesday.

Ideally, the index should surpass the weekly high near 105.00 (June 22) in the near term to allow for the recovery to gather momentum and attempt a visit to the nearly 20-year peak in the 105.80 zone (June 15). On the flip side, a breach of the lower bound of the range carries the potential to force the index to challenge the weekly low at 103.42 (June 16).

As long as the 4-month line near 102.20 holds the downside, the near-term outlook for the index should remain constructive.

Looking at the longer run, the outlook for the dollar is seen bullish while above the 200-day SMA at 97.95.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.34
Today Daily Change	66
Today Daily Change %	0.37
Today daily open	103.96

Trends
Daily SMA20	103.63
Daily SMA50	103.11
Daily SMA100	100.6
Daily SMA200	97.92

Levels
Previous Daily High	104.22
Previous Daily Low	103.67
Previous Weekly High	104.95
Previous Weekly Low	103.86
Previous Monthly High	105.01
Previous Monthly Low	101.3
Daily Fibonacci 38.2%	103.88
Daily Fibonacci 61.8%	104.01
Daily Pivot Point S1	103.68
Daily Pivot Point S2	103.4
Daily Pivot Point S3	103.13
Daily Pivot Point R1	104.23
Daily Pivot Point R2	104.5
Daily Pivot Point R3	104.77

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.