USD Index Price Analysis: Next On The Upside Comes The 2023 Peak

  • DXY now reverses two daily pullbacks in a row on Friday.
  • Further recovery targets the YTD top near 107.30.

DXY stages quite a marked comeback and sets aside two consecutive sessions of losses on Friday.

Considering the ongoing price action, extra gains appear likely in the dollar for the time being. Once the index clears the 2023 top of 107.34 (October 3), it could encourage bulls to challenge the weekly peak at 107.99 (November 21 2022) just ahead of the round level at 108.00.

In the meantime, while above the key 200-day SMA, today at 103.16, the outlook for the index is expected to remain constructive.
 

DXY daily chart

(Click on image to enlarge)


Dollar Index Spot

OVERVIEW
Today last price 106.77
Today Daily Change 72
Today Daily Change % 0.40
Today daily open 106.34
TRENDS
Daily SMA20 105.73
Daily SMA50 104.25
Daily SMA100 103.42
Daily SMA200 103.16
LEVELS
Previous Daily High 106.85
Previous Daily Low 106.32
Previous Weekly High 106.84
Previous Weekly Low 105.52
Previous Monthly High 106.84
Previous Monthly Low 103.27
Daily Fibonacci 38.2% 106.52
Daily Fibonacci 61.8% 106.65
Daily Pivot Point S1 106.16
Daily Pivot Point S2 105.97
Daily Pivot Point S3 105.62
Daily Pivot Point R1 106.69
Daily Pivot Point R2 107.04
Daily Pivot Point R3 107.22

More By This Author:

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EUR/USD Price Analysis: Outlook Remains Bearish Below The 200-Day SMA
USD Index Price Analysis: Another Visit To 107.00 Appears In The Pipeline

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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