USD Index Price Analysis: Above 104.00 comes the YTD high near 105.60

The index keeps the choppiness well and sound below 104.00.
A move beyond the monthly high at 104.11 exposes extra gains.

Pablo Piovano FXStreet

DXY sees its recent marked uptick to new monthly highs past the 104.00 mark somewhat trimmed on Thursday.

The ongoing price action leaves the door open to the continuation of the consolidative note for the time being. Occasional bouts of strength, however, should face the February high at 104.11 (February 15) as the immediate hurdle, while the trespass of this level could open the door to a potential challenge of the 2023 top at 105.63 (January 6) in the relatively near term.

In the longer run, while below the 200-day SMA at 106.44, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.68
Today Daily Change	36
Today Daily Change %	-0.17
Today daily open	103.86

Trends
Daily SMA20	102.56
Daily SMA50	103.37
Daily SMA100	105.79
Daily SMA200	106.75

Levels
Previous Daily High	104.11
Previous Daily Low	103.16
Previous Weekly High	103.96
Previous Weekly Low	102.64
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	103.75
Daily Fibonacci 61.8%	103.53
Daily Pivot Point S1	103.31
Daily Pivot Point S2	102.77
Daily Pivot Point S3	102.37
Daily Pivot Point R1	104.26
Daily Pivot Point R2	104.66
Daily Pivot Point R3	105.21

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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