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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.

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 price103.25
Today Daily Change53
Today Daily Change %-0.29
Today daily open103.55
 
Trends
Daily SMA20101.92
Daily SMA50102.34
Daily SMA100102.89
Daily SMA200105.76
 
Levels
Previous Daily High103.63
Previous Daily Low102.79
Previous Weekly High102.71
Previous Weekly Low101.04
Previous Monthly High103.06
Previous Monthly Low100.79
Daily Fibonacci 38.2%103.31
Daily Fibonacci 61.8%103.11
Daily Pivot Point S1103.02
Daily Pivot Point S2102.49
Daily Pivot Point S3102.19
Daily Pivot Point R1103.85
Daily Pivot Point R2104.15
Daily Pivot Point R3104.68

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

More from Pablo Piovano
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