US Dollar Index Price Analysis: The rally now targets 97.80

DXY pushes higher and clinches new tops past the 97.00 mark.
The June 2020 high at 97.80 should come next for dollar bulls.

Pablo Piovano FXStreet

DXY extends the advance for yet another session and records new peaks in levels last seen in the summer 2020 further north of the 97.00 barrier on Thursday.

The intense upside in the dollar left behind the previous tops and surpassed the 97.00 yardstick, allowing for the continuation of the rebound for the time being. That said, the door now remains open to a potential move to the June 2020 peak at 97.80 (June 30) ahead of the round level at 98.00.

In the short-term horizon, the upside pressure remains intact while above the 4-month line around 95.45. Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.32.

DXY daily chart

Dollar Index Spot

Overview
Today last price	97.08
Today Daily Change	60
Today Daily Change %	0.61
Today daily open	96.49

Trends
Daily SMA20	95.76
Daily SMA50	96.04
Daily SMA100	94.97
Daily SMA200	93.32

Levels
Previous Daily High	96.54
Previous Daily Low	95.91
Previous Weekly High	95.86
Previous Weekly Low	95.04
Previous Monthly High	96.92
Previous Monthly Low	95.57
Daily Fibonacci 38.2%	96.3
Daily Fibonacci 61.8%	96.15
Daily Pivot Point S1	96.09
Daily Pivot Point S2	95.69
Daily Pivot Point S3	95.46
Daily Pivot Point R1	96.71
Daily Pivot Point R2	96.94
Daily Pivot Point R3	97.34

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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