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.

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