US Dollar Index Price Analysis: Further gains could see the 2022 retested

DXY alternates gains with losses well north of 98.00.
The dollar remains underpinned by the 97.80 region.

Pablo Piovano FXStreet

DXY looks to add to Thursday’s advance with the immediate target at the round level at 99.00 on Friday.

In light of the recent price action, further gains remain likely for the time being. That said, the next hurdle aligns at the 99.97 level (May 25 2020 high) closely followed by the psychological 100.00 mark.

The current bullish stance in the index remains supported by the 5-month line, today near 95.80, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.30.

DXY daily chart

Dollar Index Spot

Overview
Today last price	98.61
Today Daily Change	55
Today Daily Change %	0.08
Today daily open	98.53

Trends
Daily SMA20	97.04
Daily SMA50	96.33
Daily SMA100	95.93
Daily SMA200	94.29

Levels
Previous Daily High	98.6
Previous Daily Low	97.72
Previous Weekly High	98.93
Previous Weekly Low	96.62
Previous Monthly High	97.74
Previous Monthly Low	95.14
Daily Fibonacci 38.2%	98.26
Daily Fibonacci 61.8%	98.06
Daily Pivot Point S1	97.97
Daily Pivot Point S2	97.41
Daily Pivot Point S3	97.1
Daily Pivot Point R1	98.85
Daily Pivot Point R2	99.16
Daily Pivot Point R3	99.72

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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