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US Dollar Index Price Analysis: Further gains likely above 107.00

  • DXY adds to Wednesday’s uptick and retargets 107.00.
  • Above 107.00 the index could revisit the weekly high at 107.42.

DXY extends the upside for the second session in a row on Thursday, although another test of the 107.00 neighbourhood remains elusive for the time being.

The continuation of the upside momentum could extend to the August high near the 107.00 mark (August 5). The breakout of this level should motivate the index to challenge the post-FOMC meeting 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 100.28.

DXY daily chart

Dollar Index Spot

Overview
Today last price106.75
Today Daily Change45
Today Daily Change %0.11
Today daily open106.63
 
Trends
Daily SMA20106.22
Daily SMA50105.83
Daily SMA100103.81
Daily SMA200100.18
 
Levels
Previous Daily High106.89
Previous Daily Low106.3
Previous Weekly High106.81
Previous Weekly Low104.64
Previous Monthly High109.29
Previous Monthly Low104.69
Daily Fibonacci 38.2%106.66
Daily Fibonacci 61.8%106.52
Daily Pivot Point S1106.33
Daily Pivot Point S2106.02
Daily Pivot Point S3105.74
Daily Pivot Point R1106.91
Daily Pivot Point R2107.2
Daily Pivot Point R3107.5

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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