USD Index Price Analysis: Upside alleviated above the 55-day SMA

DXY regains the area above the key 100.00 hurdle on Wednesday.
Next on the upside comes the resistance band at 102.60/70.

Pablo Piovano FXStreet

DXY adds to Tuesday’s gains and surpasses the crucial 100.00 barrier on Wednesday.

A more serious bullish attempt in the index should clear the 102.60/70 band, where the provisional 55-day and 100-day SMAs converge.

If sellers regain the upper hand, the breach of the current 2023 low at 99.57 (July 14) could spark a deeper retracement to the weekly low of 97.68 (March 30 2022).

Looking at the broader picture, while below the 200-day SMA at 104.17, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	100.22
Today Daily Change	38
Today Daily Change %	0.27
Today daily open	99.95

Trends
Daily SMA20	102.02
Daily SMA50	102.78
Daily SMA100	102.73
Daily SMA200	103.93

Levels
Previous Daily High	100.11
Previous Daily Low	99.57
Previous Weekly High	102.57
Previous Weekly Low	99.58
Previous Monthly High	104.5
Previous Monthly Low	101.92
Daily Fibonacci 38.2%	99.9
Daily Fibonacci 61.8%	99.77
Daily Pivot Point S1	99.64
Daily Pivot Point S2	99.34
Daily Pivot Point S3	99.1
Daily Pivot Point R1	100.18
Daily Pivot Point R2	100.41
Daily Pivot Point R3	100.72

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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