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.

Pablo Piovano FXStreet

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 price	103.62
Today Daily Change	62
Today Daily Change %	0.30
Today daily open	103.31

Trends
Daily SMA20	102.57
Daily SMA50	101.99
Daily SMA100	99.6
Daily SMA200	97.21

Levels
Previous Daily High	103.37
Previous Daily Low	102.15
Previous Weekly High	102.74
Previous Weekly Low	101.3
Previous Monthly High	105.01
Previous Monthly Low	101.3
Daily Fibonacci 38.2%	102.9
Daily Fibonacci 61.8%	102.61
Daily Pivot Point S1	102.51
Daily Pivot Point S2	101.72
Daily Pivot Point S3	101.29
Daily Pivot Point R1	103.74
Daily Pivot Point R2	104.16
Daily Pivot Point R3	104.96

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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