USD Index Price Analysis: Further Up Comes 104.70

  • DXY builds on Tuesday’s gains and reaches the 104.00 region.
  • Next on the upside comes the May high near 104.70.

DXY advances further and hits fresh multi-week peaks around the 104.00 neighborhood on Wednesday.

A convincing breakout of the 104.00 hurdle should open the door to a potential visit to the May top of 104.69 (May 31) ahead of the 2023 peak of 105.88 (March 8).

While above the key 200-day SMA, today at 103.15, the outlook for the index is expected to shift to a more constructive one.

Looking at the broader picture, a convincing breakout of the 200-day SMA should shift the outlook for the index to a more constructive one.
 

DXY daily chart

(Click on image to enlarge)


Dollar Index Spot

OVERVIEW
Today last price 103.75
Today Daily Change 60
Today Daily Change % 0.14
Today daily open 103.6
TRENDS
Daily SMA20 102.6
Daily SMA50 102.2
Daily SMA100 102.39
Daily SMA200 103.13
LEVELS
Previous Daily High 103.72
Previous Daily Low 103.01
Previous Weekly High 103.68
Previous Weekly Low 102.77
Previous Monthly High 103.57
Previous Monthly Low 99.57
Daily Fibonacci 38.2% 103.45
Daily Fibonacci 61.8% 103.28
Daily Pivot Point S1 103.17
Daily Pivot Point S2 102.74
Daily Pivot Point S3 102.47
Daily Pivot Point R1 103.87
Daily Pivot Point R2 104.15
Daily Pivot Point R3 104.58

More By This Author:

EUR/JPY Price Analysis: Interim Support Comes Near 156.00
Crude Oil Futures: Extra Downside Is Not Ruled Out
USD Index Price Analysis: Immediately To The Upside Comes 103.70

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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