US Dollar Index Price Analysis: Extra upside seems likely

DXY reaches new cycle highs past the 96.00 yardstick.
Next on the upside is seen the round level at 97.00.

Pablo Piovano FXStreet

DXY pushes higher and surpassed the 96.00 barrier to record new 16-month highs on Wednesday.

If the buying interest picks up extra impulse and the index leaves behind recent tops, then the next hurdle is seen at the round level at 97.00 the figure before 97.80 (high June 30 2020).

Looking at the broader picture, the constructive stance on the index is seen intact above the 200-day SMA at 92.21.

DXY daily chart

Dollar Index Spot

Overview
Today last price	95.8
Today Daily Change	48
Today Daily Change %	-0.11
Today daily open	95.91

Trends
Daily SMA20	94.25
Daily SMA50	93.84
Daily SMA100	93.23
Daily SMA200	92.19

Levels
Previous Daily High	95.98
Previous Daily Low	95.4
Previous Weekly High	95.27
Previous Weekly Low	93.88
Previous Monthly High	94.56
Previous Monthly Low	93.28
Daily Fibonacci 38.2%	95.76
Daily Fibonacci 61.8%	95.62
Daily Pivot Point S1	95.55
Daily Pivot Point S2	95.18
Daily Pivot Point S3	94.97
Daily Pivot Point R1	96.12
Daily Pivot Point R2	96.34
Daily Pivot Point R3	96.7

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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