USD Index Price Analysis: Further Upside Still Targets 105.60

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  • DXY recedes to the lower end of the weekly range near 104.60.
  • Next on the upside emerges the 2023 peak around 105.60.

DXY alternates gains with losses near 104.60 following Monday’s market retracement.

The ongoing price action favors the continuation of the uptrend despite the ongoing corrective move. Further bouts of strength should then clear the February high at 105.35 (February 27) to allow for a probable challenge of the 2023 top at 105.63 (January 6).

In the longer run, while below the 200-day SMA at 106.49, the outlook for the index remains negative.
 

DXY daily chart


Dollar Index Spot

OVERVIEW
Today last price 104.63
Today Daily Change 34
Today Daily Change % -0.02
Today daily open 104.65
TRENDS
Daily SMA20 103.53
Daily SMA50 103.33
Daily SMA100 105.19
Daily SMA200 106.83
LEVELS
Previous Daily High 105.36
Previous Daily Low 104.54
Previous Weekly High 105.32
Previous Weekly Low 103.76
Previous Monthly High 105.63
Previous Monthly Low 101.5
Daily Fibonacci 38.2% 104.85
Daily Fibonacci 61.8% 105.05
Daily Pivot Point S1 104.34
Daily Pivot Point S2 104.03
Daily Pivot Point S3 103.52
Daily Pivot Point R1 105.16
Daily Pivot Point R2 105.67
Daily Pivot Point R3 105.98

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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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