USD Index Price Analysis: Tough resistance remains near 103.60

DXY adds to Monday’s advance and retests the 103.60 zone.
Extra gains from here target the key 200-day SMA near 105.70.

Pablo Piovano FXStreet

DXY extends Monday’s auspicious start of the week and challenges recent peaks in the 103.60/65 band on Tuesday.

In case bulls regain the upper hand, a convincing move past 103.60/65 could pave the way for a potential challenge of the key 200-day SMA, today at 105.74 prior to the 2023 high of 105.88 (March 8).

Looking at the broader picture, while below the 200-day SMA the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	103.54
Today Daily Change	45
Today Daily Change %	0.28
Today daily open	103.25

Trends
Daily SMA20	102.09
Daily SMA50	102.3
Daily SMA100	102.89
Daily SMA200	105.69

Levels
Previous Daily High	103.37
Previous Daily Low	102.96
Previous Weekly High	103.63
Previous Weekly Low	102.2
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	103.21
Daily Fibonacci 61.8%	103.12
Daily Pivot Point S1	103.01
Daily Pivot Point S2	102.78
Daily Pivot Point S3	102.61
Daily Pivot Point R1	103.42
Daily Pivot Point R2	103.6
Daily Pivot Point R3	103.83

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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