USD Index Price Analysis: Further gains in store near term

DXY comes under pressure and revisits the 105.00 zone.
Extra upside could see the YTD top near 105.60 revisited.

Pablo Piovano FXStreet

DXY sees its recent strong upside somewhat trimmed and recedes to the 105.00 neighbourhood at the end of the week.

The continuation of the multi-week rally is now expected to shift its attention to the 2023 high of 105.88 (March 8) prior to the round level at 106.00.

While above the key 200-day SMA, today at 103.03, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	105
Today Daily Change	31
Today Daily Change %	-0.06
Today daily open	105.06

Trends
Daily SMA20	103.77
Daily SMA50	102.54
Daily SMA100	102.66
Daily SMA200	103.04

Levels
Previous Daily High	105.16
Previous Daily Low	104.8
Previous Weekly High	104.36
Previous Weekly Low	102.93
Previous Monthly High	104.44
Previous Monthly Low	101.74
Daily Fibonacci 38.2%	105.02
Daily Fibonacci 61.8%	104.94
Daily Pivot Point S1	104.86
Daily Pivot Point S2	104.66
Daily Pivot Point S3	104.51
Daily Pivot Point R1	105.21
Daily Pivot Point R2	105.36
Daily Pivot Point R3	105.56

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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