USD Index Price Analysis: Further upside targets the 2023 high at 105.60

The index adds to the ongoing rebound and approaches 104.00.
Gains could now accelerate to the 105.60 region in the near term.

Pablo Piovano FXStreet

The dollar’s march north remains unabated on Tuesday and encourages DXY to challenge the 55-day SMA near 103.80.

In the near term, further gains appear in the pipeline while above the 3-month support line near 101.90. That said, the next target of note now emerges at the 2023 peak at 105.63 recorded on January 6.

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.7
Today Daily Change	40
Today Daily Change %	0.06
Today daily open	103.64

Trends
Daily SMA20	102.27
Daily SMA50	103.59
Daily SMA100	106.45
Daily SMA200	106.7

Levels
Previous Daily High	103.77
Previous Daily Low	103.01
Previous Weekly High	103.01
Previous Weekly Low	100.81
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	103.48
Daily Fibonacci 61.8%	103.3
Daily Pivot Point S1	103.17
Daily Pivot Point S2	102.71
Daily Pivot Point S3	102.41
Daily Pivot Point R1	103.93
Daily Pivot Point R2	104.23
Daily Pivot Point R3	104.69

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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