USD Index Price Analysis: Another visit to 107.00 appears in the pipeline

DXY adds to Wednesday’s pullback and recedes to 106.50.
Another test of the 2023 peak remains in store near term.

Pablo Piovano FXStreet

DXY deflates to the 106.50 zone, where it meets some decent contention so far on Thursday.

Considering the ongoing price action, extra gains appear likely in the dollar for the time being. Once the index clears the 2023 top of 107.34 (October 3), it could encourage bulls to challenge the weekly peak at 107.99 (November 21 2022) just ahead of the round level at 108.00.

In the meantime, while above the key 200-day SMA, today at 103.14, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	106.74
Today Daily Change	35
Today Daily Change %	-0.06
Today daily open	106.8

Trends
Daily SMA20	105.66
Daily SMA50	104.16
Daily SMA100	103.39
Daily SMA200	103.14

Levels
Previous Daily High	107.25
Previous Daily Low	106.51
Previous Weekly High	106.84
Previous Weekly Low	105.52
Previous Monthly High	106.84
Previous Monthly Low	103.27
Daily Fibonacci 38.2%	106.79
Daily Fibonacci 61.8%	106.97
Daily Pivot Point S1	106.46
Daily Pivot Point S2	106.12
Daily Pivot Point S3	105.72
Daily Pivot Point R1	107.2
Daily Pivot Point R2	107.59
Daily Pivot Point R3	107.93

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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