USD Index Price Analysis: Further upside favoured near term

DXY advances further and clinches new multi-month tops.
Extra upside is expected to retest the 2023 top near 105.90.

Pablo Piovano FXStreet

DXY resumes the uptrend and reaches fresh six-month highs in the 105.75/80 band at the end of the week.

The continuation of the upside momentum in the index is expected to challenge the 2023 top at 105.88 (March 8) sooner rather than later. The surpass of this level could put a move to the round level at 106.00 rapidly back on the radar.

While above the key 200-day SMA, today at 103.04, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	105.53
Today Daily Change	40
Today Daily Change %	0.14
Today daily open	105.38

Trends
Daily SMA20	104.61
Daily SMA50	103.12
Daily SMA100	103
Daily SMA200	103.05

Levels
Previous Daily High	105.74
Previous Daily Low	105.28
Previous Weekly High	105.44
Previous Weekly Low	104.42
Previous Monthly High	104.44
Previous Monthly Low	101.74
Daily Fibonacci 38.2%	105.56
Daily Fibonacci 61.8%	105.45
Daily Pivot Point S1	105.19
Daily Pivot Point S2	105.01
Daily Pivot Point S3	104.74
Daily Pivot Point R1	105.65
Daily Pivot Point R2	105.92
Daily Pivot Point R3	106.11

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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