USD Index Price Analysis: The Hunt For 104.70

  • DXY reverses the initial pessimism and advances to daily highs.
  • Extra recovery continues to target the 104.70 region.

DXY quickly leaves behind Monday’s decline and resumes the uptrend to retest the 104.30/40 band on Tuesday.

Immediately to the upside turns up the August top at 104.44 (August 25), while the surpass of this level should open the door to a rapid test of the May high of 104.69 (May 31) prior to the 2023 peak of 105.88 (March 8).

While above the key 200-day SMA, today at 103.09, the outlook for the index is expected to shift to a more constructive one.
 

DXY daily chart


Dollar Index Spot

OVERVIEW
Today last price 104.33
Today Daily Change 53
Today Daily Change % 0.31
Today daily open 104.01
TRENDS
Daily SMA20 103.06
Daily SMA50 102.31
Daily SMA100 102.46
Daily SMA200 103.09
LEVELS
Previous Daily High 104.22
Previous Daily Low 103.98
Previous Weekly High 104.44
Previous Weekly Low 103.01
Previous Monthly High 103.57
Previous Monthly Low 99.57
Daily Fibonacci 38.2% 104.07
Daily Fibonacci 61.8% 104.13
Daily Pivot Point S1 103.92
Daily Pivot Point S2 103.82
Daily Pivot Point S3 103.67
Daily Pivot Point R1 104.16
Daily Pivot Point R2 104.31
Daily Pivot Point R3 104.41

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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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