• DXY retreats to the 104.50 region after failing near 104.70.
  • The surpass of 105.00 should expose a test of the 2022 high.

DXY looks to add to Tuesday’s gains, although the bull run seems to have faltered around the 104.70 zone on Wednesday.

Ideally, the index should surpass the weekly high near 105.00 (June 22) in the near term to allow for the recovery to gather momentum and attempt a visit to the nearly 20-year peak in the 105.80 zone (June 15).

As long as the 4-month line near 102.25 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 98.01.

DXY daily chart

Dollar Index Spot

Overview
Today last price 104.56
Today Daily Change 34
Today Daily Change % 0.06
Today daily open 104.5
 
Trends
Daily SMA20 103.77
Daily SMA50 103.18
Daily SMA100 100.69
Daily SMA200 97.98
 
Levels
Previous Daily High 104.61
Previous Daily Low 103.77
Previous Weekly High 104.95
Previous Weekly Low 103.86
Previous Monthly High 105.01
Previous Monthly Low 101.3
Daily Fibonacci 38.2% 104.29
Daily Fibonacci 61.8% 104.09
Daily Pivot Point S1 103.98
Daily Pivot Point S2 103.45
Daily Pivot Point S3 103.13
Daily Pivot Point R1 104.82
Daily Pivot Point R2 105.14
Daily Pivot Point R3 105.67

 

 

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