USD Index Price Analysis: Another visit to the 2023 top seems likely

DXY adds to Friday’s gains and approaches 106.70.
Next on the upside comes the yearly high past 106.80.

Pablo Piovano FXStreet

DXY’s upside momentum gathers extra pace and trades at shouting distance from the area of 2023 peaks around 106.70 at the beginning of the week.

In the meantime, extra gains appear likely in the dollar for the time being. Once the index clears the YTD high of 106.83 (September 27), it could encourage bulls to challenge the weekly top at 107.19 (November 30, 2022) prior to another weekly peak at 107.99 (November 21 2022).

In the meantime, while above the key 200-day SMA, today at 103.10, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	106.64
Today Daily Change	69
Today Daily Change %	0.45
Today daily open	106.16

Trends
Daily SMA20	105.31
Daily SMA50	103.82
Daily SMA100	103.26
Daily SMA200	103.1

Levels
Previous Daily High	106.24
Previous Daily Low	105.66
Previous Weekly High	106.84
Previous Weekly Low	105.52
Previous Monthly High	106.84
Previous Monthly Low	103.27
Daily Fibonacci 38.2%	105.88
Daily Fibonacci 61.8%	106.02
Daily Pivot Point S1	105.8
Daily Pivot Point S2	105.43
Daily Pivot Point S3	105.21
Daily Pivot Point R1	106.38
Daily Pivot Point R2	106.61
Daily Pivot Point R3	106.97

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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