USD Index Price Analysis: Further upside still targets 105.60

DXY recedes to the lower end of the weekly range near 104.60.
Next on the upside emerges the 2023 peak around 105.60.

Pablo Piovano FXStreet

DXY alternates gains with losses near 104.60 following Monday’s marked retracement.

The ongoing price action favours the continuation of the uptrend despite the ongoing corrective move. Further bouts of strength should then clear the February high at 105.35 (February 27) to allow for a probable challenge of the 2023 top at 105.63 (January 6).

In the longer run, while below the 200-day SMA at 106.49, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.63
Today Daily Change	34
Today Daily Change %	-0.02
Today daily open	104.65

Trends
Daily SMA20	103.53
Daily SMA50	103.33
Daily SMA100	105.19
Daily SMA200	106.83

Levels
Previous Daily High	105.36
Previous Daily Low	104.54
Previous Weekly High	105.32
Previous Weekly Low	103.76
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	104.85
Daily Fibonacci 61.8%	105.05
Daily Pivot Point S1	104.34
Daily Pivot Point S2	104.03
Daily Pivot Point S3	103.52
Daily Pivot Point R1	105.16
Daily Pivot Point R2	105.67
Daily Pivot Point R3	105.98

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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