USD Index Price Analysis: Recovery Looks Firm Near Term

  • The index pushes higher and consolidates the breakout of 103.00,
  • There is an interim hurdle at the 55-day SMA at 103.88.

The march north in the index appears unabated and now extends the recovery from last week’s lows near 100.80 to the area well above the 103.00 yardstick.

DXY surpasses the 3-month line and this allows for the continuation of the upside momentum to, initially, the temporary 55-day SMA, today at 103.88. Further up, there are no relevant hurdles until the 2023 top at 105.63 (January 6).

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

DXY daily chart

(Click on image to enlarge)

Dollar Index Spot

Today last price 103.29
Today Daily Change 40
Today Daily Change % 0.28
Today daily open 103
Daily SMA20 102.25
Daily SMA50 103.6
Daily SMA100 106.53
Daily SMA200 106.69
Previous Daily High 103.01
Previous Daily Low 101.55
Previous Weekly High 103.01
Previous Weekly Low 100.81
Previous Monthly High 105.63
Previous Monthly Low 101.5
Daily Fibonacci 38.2% 102.45
Daily Fibonacci 61.8% 102.1
Daily Pivot Point S1 102.03
Daily Pivot Point S2 101.06
Daily Pivot Point S3 100.57
Daily Pivot Point R1 103.49
Daily Pivot Point R2 103.98
Daily Pivot Point R3 104.96

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