USD Index Price Analysis: Extra range bound on the cards

DXY alternates gains with losses in the low-106.00s.
Extra consolidation appears in store in the very near term.

Pablo Piovano FXStreet

DXY trades in an inconclusive fashion around the 106.20-106.30 band at the end of the week.

It seems the index has moved into a consolidative phase for the time being. Occasional bullish attempts, in the meantime, continue to target the weekly high of 106.78 (October 12) prior to the 2023 top of 107.34 (October 3). On the downside, the monthly low of 105.53 (October 12) is expected to hold the downside.

So far, while above the key 200-day SMA, today at 103.29, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	106.23
Today Daily Change	28
Today Daily Change %	0.00
Today daily open	106.23

Trends
Daily SMA20	106.3
Daily SMA50	105.04
Daily SMA100	103.65
Daily SMA200	103.28

Levels
Previous Daily High	106.67
Previous Daily Low	105.96
Previous Weekly High	106.79
Previous Weekly Low	105.54
Previous Monthly High	106.84
Previous Monthly Low	103.27
Daily Fibonacci 38.2%	106.23
Daily Fibonacci 61.8%	106.4
Daily Pivot Point S1	105.9
Daily Pivot Point S2	105.57
Daily Pivot Point S3	105.18
Daily Pivot Point R1	106.62
Daily Pivot Point R2	107
Daily Pivot Point R3	107.33

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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