TRENDING:

USD Index Price Analysis: Recovery looks firm near term

The index pushes higher and consolidates the breakout of 103.00,
There is an interim hurdle at the 55-day SMA at 103.88.

The march north in the index appears unabated and now extends the recovery from last week’s lows near 100.80 to the area well above the 103.00 yardstick.

DXY surpasses the 3-month line and this allows for the continuation of the upside momentum to, initially, the temporary 55-day SMA, today at 103.88. Further up, there are no relevant hurdles until the 2023 top at 105.63 (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	103.29
Today Daily Change	40
Today Daily Change %	0.28
Today daily open	103

Trends
Daily SMA20	102.25
Daily SMA50	103.6
Daily SMA100	106.53
Daily SMA200	106.69

Levels
Previous Daily High	103.01
Previous Daily Low	101.55
Previous Weekly High	103.01
Previous Weekly Low	100.81
Previous Monthly High	105.63
Previous Monthly Low	101.5
Daily Fibonacci 38.2%	102.45
Daily Fibonacci 61.8%	102.1
Daily Pivot Point S1	102.03
Daily Pivot Point S2	101.06
Daily Pivot Point S3	100.57
Daily Pivot Point R1	103.49
Daily Pivot Point R2	103.98
Daily Pivot Point R3	104.96

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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