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US Dollar Index Price Analysis: Next on the upside comes 104.21

  • DXY adds to the weekly rebound above 103.00 on Friday.
  • Further gains face an interim hurdle at the Fibo level at 104.21.

DXY keeps the march north unabated and extends the recover to the 103.70 zone at the end of the week.

Considering the ongoing price action, further gains now look probable. Against that, the next interim barrier comes at the Fibo level (of the 105.00-101.29 drop) at 104.21ahead of the 2022 peak at 105.00 recorded on May 13.

As long as the 3-month line around 101.30 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 97.24.

DXY daily chart

Dollar Index Spot

Overview
Today last price103.62
Today Daily Change62
Today Daily Change %0.30
Today daily open103.31
 
Trends
Daily SMA20102.57
Daily SMA50101.99
Daily SMA10099.6
Daily SMA20097.21
 
Levels
Previous Daily High103.37
Previous Daily Low102.15
Previous Weekly High102.74
Previous Weekly Low101.3
Previous Monthly High105.01
Previous Monthly Low101.3
Daily Fibonacci 38.2%102.9
Daily Fibonacci 61.8%102.61
Daily Pivot Point S1102.51
Daily Pivot Point S2101.72
Daily Pivot Point S3101.29
Daily Pivot Point R1103.74
Daily Pivot Point R2104.16
Daily Pivot Point R3104.96

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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