USD Index Price Analysis: No changes to the current consolidation

DXY manages to regain some composure and tests 104.70.
Further range bound trade looks likely for the time being.

Pablo Piovano FXStreet

DXY trades within a narrow range at in the mid-104.00s at the beginning of the week.

So far, the continuation of the range bound theme seems the most likely scenario in the very near term for the index. In the meantime, the dollar needs to clear the February peak at 105.35 (February 27) to allow for extra recovery and a potential challenge of the 2023 top at 105.63 (January 6).

In the longer run, while below the 200-day SMA at 106.55, the outlook for the index remains negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.5
Today Daily Change	35
Today Daily Change %	-0.02
Today daily open	104.52

Trends
Daily SMA20	104.08
Daily SMA50	103.37
Daily SMA100	104.94
Daily SMA200	106.82

Levels
Previous Daily High	105.01
Previous Daily Low	104.48
Previous Weekly High	105.36
Previous Weekly Low	104.09
Previous Monthly High	105.36
Previous Monthly Low	100.81
Daily Fibonacci 38.2%	104.69
Daily Fibonacci 61.8%	104.81
Daily Pivot Point S1	104.33
Daily Pivot Point S2	104.14
Daily Pivot Point S3	103.8
Daily Pivot Point R1	104.86
Daily Pivot Point R2	105.2
Daily Pivot Point R3	105.39

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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