USD Index Price Analysis: Immediately to the upside comes 104.00

DXY clinches fresh monthly highs near 103.80 on Wednesday.
Further buying pressure could challenges the 104.00 zone.

Pablo Piovano FXStreet

DXY advances to fresh highs in the 103.75/80 band before losing some momentum on Wednesday.

In case bulls regain the upper hand, the next up-barrier emerges at the 104.00 hurdle prior to the key 200-day SMA, today at 105.73, and the 2023 peak of 105.88 (March 8).

Looking at the broader picture, while below the 200-day SMA the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.48
Today Daily Change	42
Today Daily Change %	-0.05
Today daily open	103.53

Trends
Daily SMA20	102.17
Daily SMA50	102.3
Daily SMA100	102.87
Daily SMA200	105.66

Levels
Previous Daily High	103.65
Previous Daily Low	103.16
Previous Weekly High	103.63
Previous Weekly Low	102.2
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	103.46
Daily Fibonacci 61.8%	103.35
Daily Pivot Point S1	103.25
Daily Pivot Point S2	102.96
Daily Pivot Point S3	102.76
Daily Pivot Point R1	103.73
Daily Pivot Point R2	103.93
Daily Pivot Point R3	104.22

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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