USD Index Price Analysis: There is a minor support around 104.70

DXY extends the correction to the 105.70/65 band.
A deeper pullback should meet contention near 104.70.

Pablo Piovano FXStreet

DXY adds to Thursday’s losses and briefly visits the vicinity of the 105.70 zone at the end of the week.

Despite the ongoing technical correction, extra gains appear likely for the time being. The surpass of the yearly high of 106.83 (September 27) could encourage the index to challenge the weekly top at 107.19 (November 30, 2022) prior to another weekly peak at 107.99 (November 21 2022).

In the meantime, while above the key 200-day SMA, today at 103.09, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	105.76
Today Daily Change	57
Today Daily Change %	-0.36
Today daily open	106.14

Trends
Daily SMA20	105.21
Daily SMA50	103.71
Daily SMA100	103.23
Daily SMA200	103.09

Levels
Previous Daily High	106.76
Previous Daily Low	106.02
Previous Weekly High	105.78
Previous Weekly Low	104.66
Previous Monthly High	104.44
Previous Monthly Low	101.74
Daily Fibonacci 38.2%	106.3
Daily Fibonacci 61.8%	106.47
Daily Pivot Point S1	105.85
Daily Pivot Point S2	105.57
Daily Pivot Point S3	105.12
Daily Pivot Point R1	106.59
Daily Pivot Point R2	107.04
Daily Pivot Point R3	107.32

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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