USD Index Price Analysis: Recovery appears capped by 114.77

DXY reverses recent weakness and reclaims 112.00 and above.
Further upside pressure keeps targeting the YTD high near 114.80.

Pablo Piovano FXStreet

DXY advances moderately beyond the 112.00 hurdle following two consecutive daily pullbacks at the end of the week.

The index retreated from recent extreme overbought levels and seems to have met some contention around 111.50 so far. The continuation of the ongoing rebound could see the 2022 peak at 114.77 (September 28) revisited.

The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 107.20.

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 102.45.

DXY daily chart

Dollar Index Spot

Overview
Today last price	112.51
Today Daily Change	110
Today Daily Change %	0.48
Today daily open	111.97

Trends
Daily SMA20	110.8
Daily SMA50	108.7
Daily SMA100	106.63
Daily SMA200	102.47

Levels
Previous Daily High	113.79
Previous Daily Low	111.97
Previous Weekly High	113.24
Previous Weekly Low	109.36
Previous Monthly High	109.48
Previous Monthly Low	104.64
Daily Fibonacci 38.2%	112.66
Daily Fibonacci 61.8%	113.09
Daily Pivot Point S1	111.36
Daily Pivot Point S2	110.75
Daily Pivot Point S3	109.54
Daily Pivot Point R1	113.18
Daily Pivot Point R2	114.4
Daily Pivot Point R3	115

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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