USD Index Price Analysis: Decent support emerges around 106.00

DXY picks up upside traction and reverses two daily pullbacks in a row.
The continuation of the rebound targets the 106.80 region.

Pablo Piovano FXStreet

DXY leaves behind the pessimism seen in the first half of the week and revisits the low-106.00s on Wednesday.

In case the bullish impulse accelerates, the surpass of the weekly high of 106.78 (October 12) could encourage the index to embark on a potential test of the 2023 top of 107.34 (October 3) in the short-term horizon.

In the meantime, while above the key 200-day SMA, today at 103.25, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	106.28
Today Daily Change	37
Today Daily Change %	0.08
Today daily open	106.19

Trends
Daily SMA20	106.2
Daily SMA50	104.89
Daily SMA100	103.6
Daily SMA200	103.24

Levels
Previous Daily High	106.52
Previous Daily Low	106.02
Previous Weekly High	106.79
Previous Weekly Low	105.54
Previous Monthly High	106.84
Previous Monthly Low	103.27
Daily Fibonacci 38.2%	106.22
Daily Fibonacci 61.8%	106.33
Daily Pivot Point S1	105.97
Daily Pivot Point S2	105.75
Daily Pivot Point S3	105.47
Daily Pivot Point R1	106.47
Daily Pivot Point R2	106.75
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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