USD Index Price Analysis: Decent Support Emerges Around 106.00

  • DXY picks up upside traction and reverses two daily pullbacks in a row.
  • The continuation of the rebound targets the 106.80 region.

DXY leaves behind the pessimism seen in the first half of the week and revisits the low-106.00s on Wednesday.

In case the bullish impulse accelerates, the surpass of the weekly high of 106.78 (October 12) could encourage the index to embark on a potential test of the 2023 top of 107.34 (October 3) in the short-term horizon.

In the meantime, while above the key 200-day SMA, today at 103.25, the outlook for the index is expected to remain constructive.
 

DXY daily chart


Dollar Index Spot

OVERVIEW
Today last price 106.28
Today Daily Change 37
Today Daily Change % 0.08
Today daily open 106.19
TRENDS
Daily SMA20 106.2
Daily SMA50 104.89
Daily SMA100 103.6
Daily SMA200 103.24
LEVELS
Previous Daily High 106.52
Previous Daily Low 106.02
Previous Weekly High 106.79
Previous Weekly Low 105.54
Previous Monthly High 106.84
Previous Monthly Low 103.27
Daily Fibonacci 38.2% 106.22
Daily Fibonacci 61.8% 106.33
Daily Pivot Point S1 105.97
Daily Pivot Point S2 105.75
Daily Pivot Point S3 105.47
Daily Pivot Point R1 106.47
Daily Pivot Point R2 106.75
Daily Pivot Point R3 106.97

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Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...

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