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.

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

 

 

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