US Dollar Index Price Analysis: The hunt for 105.00

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.

Pablo Piovano FXStreet

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

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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