USD Index Price Analysis: Extra upside should not be ruled out

DXY meets some resistance around the 104.30 region so far.
Extra upside should face the key 200-day SMA near 105.70.

Pablo Piovano FXStreet

DXY retreats for the first session after four consecutive daily gains, putting the 104.00 region to the test at the end of the week.

Further upside appears on the cards in the near term. That said, the next resistance level of note is expected at the key 200-day SMA, today at 105.69 ahead of the 2023 top of 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	103.96
Today Daily Change	33
Today Daily Change %	-0.26
Today daily open	104.23

Trends
Daily SMA20	102.43
Daily SMA50	102.28
Daily SMA100	102.86
Daily SMA200	105.6

Levels
Previous Daily High	104.31
Previous Daily Low	103.82
Previous Weekly High	103.63
Previous Weekly Low	102.2
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	104.12
Daily Fibonacci 61.8%	104.01
Daily Pivot Point S1	103.93
Daily Pivot Point S2	103.63
Daily Pivot Point S3	103.44
Daily Pivot Point R1	104.42
Daily Pivot Point R2	104.61
Daily Pivot Point R3	104.91

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.

GBP/USD edges lower below 1.3650, with eyes on US PCE data

GBP/USD trades with a negative bias below 1.3650 in the European session on Wednesday, eroding a part of the previous day's strong gains. The pair, however, remains within striking distance of a six-month top, set last Friday, as traders keenly await the release of the US Personal Consumption Expenditures (PCE) Price Index data for a fresh impetus.

EUR/USD holds lower ground near 1.1650 ahead of key US data

EUR/USD is holding lower ground toward 1.1650 in Wednesday's European session. The US Dollar is recovering modestly amid profit-taking and Middle East uncertainty. US inflation, tracked by the PCE, and another revision of Q2 GDP data should keep investors entertained on Wednesday.

Gold corrects to near $4,620 in countdown to US PCE Inflation data

Gold price is down 0.75% to near $4,620 during the European trading session. The precious metal corrects as the rally pauses after posting a fresh three-month high at $4,697 the previous day, with investors turning cautious ahead of the United States Personal Consumption Expenditure Price Index (PCE) data for July at 12:30 GMT and Federal Reserve Chairman Kevin Warsh’s commentary at the Jackson Hole Symposium.

Hyperliquid eyes record high on rising revenue, ETF inflows

Hyperliquid (HYPE) is up 4% with bulls aiming to advance last week’s 43% gains to a fresh record high above $83.30. The “Everything Exchange” is gaining institutional and user demand, with Exchange Traded Funds recording daily inflows of over $5 million in each of the last two days, while printing daily revenue of over $2.75 million over the last seven days.

US core PCE inflation set to keep pressure on the Federal Reserve to hike interest rates

The United States Bureau of Economic Analysis is expected to publish the Personal Consumption Expenditures (PCE) Price Index data for July on Wednesday, at 12:30 GMT. PCE inflation data for July is expected to reveal that price pressures remain high, well above the Fed’s 2% target.

Canada hits US goods with tariffs; The rate market sees a problem

On September 8, Canada begins charging its own importers 15%, 25% and 50% on roughly 700 lines of American goods. The measure is billed as dollar for dollar, and on the arithmetic of covered trade it is. What it is not is a tax on the United States.