USD Index Price Analysis: Further recovery targets the 107.10 area

Pablo Piovano FXStreet

- DXY regains composure and adds to Monday’s rebound.

- Once 106.00 is cleared, the index should shift its attention to 107.10.

DXY extends the rebound from Monday’s lows in the sub-105.00 zone and revisits the 105.70 region on Tuesday.

In case the buying interest gathers extra pace, the index could revisit the so far November high at 107.11 (November 1) ahead of the 2023 peak of 107.34 (October 3).

So far, while above the key 200-day SMA, today at 103.53, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	105.68
Today Daily Change	49
Today Daily Change %	0.37
Today daily open	105.29

Trends
Daily SMA20	106.19
Daily SMA50	105.68
Daily SMA100	103.99
Daily SMA200	103.52

Levels
Previous Daily High	105.29
Previous Daily Low	104.85
Previous Weekly High	107.11
Previous Weekly Low	104.94
Previous Monthly High	107.35
Previous Monthly Low	105.35
Daily Fibonacci 38.2%	105.12
Daily Fibonacci 61.8%	105.02
Daily Pivot Point S1	104.99
Daily Pivot Point S2	104.7
Daily Pivot Point S3	104.54
Daily Pivot Point R1	105.44
Daily Pivot Point R2	105.59
Daily Pivot Point R3	105.89

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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