US Dollar Index Price Analysis: There is still room for extra gains

DXY comes under some pressure and breaches 105.00.
The continuation of the uptrend could see the 2022 revisited.

Pablo Piovano FXStreet

DXY faces some moderate selling pressure and breaks below the 105.00 support at the beginning of the week.

Further upside in the dollar remains in store in the short-term horizon. Against that, the index could attempt another visit to the so far yearly highs near 105.80 recorded in the wake of the FOMC event on June 15. If cleared, then the next hurdle of relevance is seen at the December 2002 at 107.31.

As long as the 4-month line near 102.45 holds the downside, the near-term outlook for the index should remain constructive.

The broader bullish view remains in place while above the 200-day SMA at 98.19.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.87
Today Daily Change	35
Today Daily Change %	-0.23
Today daily open	105.11

Trends
Daily SMA20	104.19
Daily SMA50	103.44
Daily SMA100	100.96
Daily SMA200	98.15

Levels
Previous Daily High	105.64
Previous Daily Low	104.69
Previous Weekly High	105.64
Previous Weekly Low	103.67
Previous Monthly High	105.79
Previous Monthly Low	101.64
Daily Fibonacci 38.2%	105.28
Daily Fibonacci 61.8%	105.05
Daily Pivot Point S1	104.65
Daily Pivot Point S2	104.19
Daily Pivot Point S3	103.7
Daily Pivot Point R1	105.6
Daily Pivot Point R2	106.1
Daily Pivot Point R3	106.56

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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