USD Index Price Analysis: Attention now shifts to 104.70

DXY finally surpasses 104.00 and prints new two-month tops.
Immediately to the upside emerges the 104.70 zone.

Pablo Piovano FXStreet

DXY picks up pace and advances to fresh tops around 104.30 at the end of the week.

A clear breakout of the 104.00 region could pave the way for a potential visit to the May top of 104.69 (May 31) prior to the 2023 peak of 105.88 (March 8) in the relatively short-term horizon.

While above the key 200-day SMA, today at 103.12, the outlook for the index is expected to shift to a more constructive one.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.02
Today Daily Change	36
Today Daily Change %	0.04
Today daily open	103.98

Trends
Daily SMA20	102.83
Daily SMA50	102.24
Daily SMA100	102.43
Daily SMA200	103.11

Levels
Previous Daily High	104.03
Previous Daily Low	103.27
Previous Weekly High	103.68
Previous Weekly Low	102.77
Previous Monthly High	103.57
Previous Monthly Low	99.57
Daily Fibonacci 38.2%	103.74
Daily Fibonacci 61.8%	103.56
Daily Pivot Point S1	103.49
Daily Pivot Point S2	103.01
Daily Pivot Point S3	102.74
Daily Pivot Point R1	104.25
Daily Pivot Point R2	104.52
Daily Pivot Point R3	105

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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