US Dollar Index Price Analysis: Extra gains likely above 96.50

DXY fades Thursday’s modest advance and retests 96.00.
If bulls wake up, then the next target comes near 96.50.

Pablo Piovano FXStreet

DXY alternates gains with losses at/above the 96.00 yardstick ahead of the key US Nonfarm Payrolls on Friday.

If the buying interest gathers impulse, the index should initially target the area of YTD highs near 96.50 to allow for further gains to 96.90 (December 15) and the 2021 peak at 96.93 (November 24).

In the meantime, while above the 4-month support line (off September’s low) around 95.00, further upside in DXY is likely. Looking at the broader picture, the longer-term positive stance remains unchanged above the 200-day SMA at 93.06.

DXY daily chart

Dollar Index Spot

Overview
Today last price	96.19
Today Daily Change	21
Today Daily Change %	-0.05
Today daily open	96.24

Trends
Daily SMA20	96.19
Daily SMA50	95.76
Daily SMA100	94.56
Daily SMA200	93.06

Levels
Previous Daily High	96.39
Previous Daily Low	96.03
Previous Weekly High	96.39
Previous Weekly Low	95.57
Previous Monthly High	96.92
Previous Monthly Low	95.57
Daily Fibonacci 38.2%	96.25
Daily Fibonacci 61.8%	96.17
Daily Pivot Point S1	96.05
Daily Pivot Point S2	95.86
Daily Pivot Point S3	95.7
Daily Pivot Point R1	96.41
Daily Pivot Point R2	96.57
Daily Pivot Point R3	96.76

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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