US Dollar Index Price Analysis: Rising bets for a test of 2022 highs

DXY clinches new highs just above the 108.00 mark.
There is now scope for a move to the 2022 high past 109.00.

Pablo Piovano FXStreet

DXY is up for the third session in a row and prints new multi-week tops just north of the 108.00 hurdle on Friday.

The continuation of the upside momentum is now expected to target the YTD high at 109.29 (July 14) ahead of the September 2002 high at 109.77. Up from here emerges the round level at 110.00.

In the meantime, the 6-month support line continues hold the upside around 104.90. Above this zone, the index is expected to keep the short-term positive stance.

Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.35.

DXY daily chart

Dollar Index Spot

Overview
Today last price	107.95
Today Daily Change	61
Today Daily Change %	0.40
Today daily open	107.52

Trends
Daily SMA20	106.25
Daily SMA50	105.93
Daily SMA100	103.91
Daily SMA200	100.24

Levels
Previous Daily High	107.56
Previous Daily Low	106.5
Previous Weekly High	106.81
Previous Weekly Low	104.64
Previous Monthly High	109.29
Previous Monthly Low	104.69
Daily Fibonacci 38.2%	107.16
Daily Fibonacci 61.8%	106.91
Daily Pivot Point S1	106.83
Daily Pivot Point S2	106.13
Daily Pivot Point S3	105.77
Daily Pivot Point R1	107.89
Daily Pivot Point R2	108.26
Daily Pivot Point R3	108.95

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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