USD Index Price Analysis: Further upside could retest 104.70


  • DXY trims part of the recent two-day advance.
  • Bulls remain focused on the May high in the 104.70 zone.

DXY comes under pressure and confronts the key support at the 104.00 region at the beginning of the week.

Immediately to the upside turns up the August top at 104.44 (August 25), while the surpass of this level should open the door to a rapid test of the May high of 104.69 (May 31) prior to the 2023 peak of 105.88 (March 8).

While above the key 200-day SMA, today at 103.10, the outlook for the index is expected to shift to a more constructive one.

DXY daily chart

Dollar Index Spot

Overview
Today last price 104.06
Today Daily Change 24
Today Daily Change % -0.12
Today daily open 104.18
 
Trends
Daily SMA20 102.95
Daily SMA50 102.28
Daily SMA100 102.45
Daily SMA200 103.1
 
Levels
Previous Daily High 104.44
Previous Daily Low 103.73
Previous Weekly High 104.44
Previous Weekly Low 103.01
Previous Monthly High 103.57
Previous Monthly Low 99.57
Daily Fibonacci 38.2% 104.17
Daily Fibonacci 61.8% 104
Daily Pivot Point S1 103.8
Daily Pivot Point S2 103.41
Daily Pivot Point S3 103.09
Daily Pivot Point R1 104.51
Daily Pivot Point R2 104.83
Daily Pivot Point R3 105.21

 

 

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