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


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

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

 

 

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