USD Index Price Analysis: Consolidation likely ahead of further gains

DXY picks up strong pace and surpasses the 105.00 hurdle.
Next on the upside comes the 2023 high near 105.30.

Pablo Piovano FXStreet

DXY resumes the weekly upside and reclaims the 105.00 mark and above, rapidly leaving behind Wednesday’s marked pullback.

Immediately to the upside for the dollar appears the February peak at 105.35 (February 27). The surpass of this level should pave the way for the continuation of the multi-week uptrend to challenge the 2023 top at 105.63 (January 6).

In the longer run, while below the 200-day SMA at 106.52, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	105.03
Today Daily Change	77
Today Daily Change %	0.61
Today daily open	104.39

Trends
Daily SMA20	103.84
Daily SMA50	103.36
Daily SMA100	105.08
Daily SMA200	106.83

Levels
Previous Daily High	105.09
Previous Daily Low	104.09
Previous Weekly High	105.32
Previous Weekly Low	103.76
Previous Monthly High	105.36
Previous Monthly Low	100.81
Daily Fibonacci 38.2%	104.48
Daily Fibonacci 61.8%	104.71
Daily Pivot Point S1	103.96
Daily Pivot Point S2	103.52
Daily Pivot Point S3	102.96
Daily Pivot Point R1	104.96
Daily Pivot Point R2	105.53
Daily Pivot Point R3	105.96

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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