USD Index Price Analysis: Extra gains target the 200-day SMA

DXY’s strong upside meets resistance near 103.60 on Friday.
The key 200-day SMA emerges as the next hurdle near 105.80.

Pablo Piovano FXStreet

The solid weekly performance of DXY seems to have encountered a firm obstacle around multi-week highs near 103.60 so far on Friday.

Further upside seems like the most probable scenario for the index so far. Against that, a convincing move past 103.60 could pave the way for a potential challenge of the key 200-day SMA, today at 105.78 just ahead of the 2023 peak at 105.88 (March 8).

Looking at the broader picture, while below the 200-day SMA the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.25
Today Daily Change	53
Today Daily Change %	-0.29
Today daily open	103.55

Trends
Daily SMA20	101.92
Daily SMA50	102.34
Daily SMA100	102.89
Daily SMA200	105.76

Levels
Previous Daily High	103.63
Previous Daily Low	102.79
Previous Weekly High	102.71
Previous Weekly Low	101.04
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	103.31
Daily Fibonacci 61.8%	103.11
Daily Pivot Point S1	103.02
Daily Pivot Point S2	102.49
Daily Pivot Point S3	102.19
Daily Pivot Point R1	103.85
Daily Pivot Point R2	104.15
Daily Pivot Point R3	104.68

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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