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USD Index Price Analysis: There is a tough barrier around 106.00

DXY trades in a vacillating fashion just below 106.00.

-  The surpass of 106.00 should refocus the attention to 107.00.


DXY trades within a narrow range near the 106.00 region at the end of the week.

In case the buying interest gathers extra pace, the index is expected to challenge the 106.00 barrier. Once cleared, it could open the door to a rapid visit to the November top at 107.11 (November 1) prior to the 2023 peak of 107.34 (October 3).

In the meantime, while above the key 200-day SMA, today at 103.59, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price105.8
Today Daily Change25
Today Daily Change %-0.09
Today daily open105.9
 
Trends
Daily SMA20106.13
Daily SMA50105.81
Daily SMA100104.09
Daily SMA200103.58
 
Levels
Previous Daily High105.97
Previous Daily Low105.38
Previous Weekly High107.11
Previous Weekly Low104.94
Previous Monthly High107.35
Previous Monthly Low105.35
Daily Fibonacci 38.2%105.74
Daily Fibonacci 61.8%105.6
Daily Pivot Point S1105.53
Daily Pivot Point S2105.16
Daily Pivot Point S3104.95
Daily Pivot Point R1106.12
Daily Pivot Point R2106.34
Daily Pivot Point R3106.7

Author

Pablo Piovano

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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