USD Index Price Analysis: Attention now shifts to 104.70
|- DXY finally surpasses 104.00 and prints new two-month tops.
- Immediately to the upside emerges the 104.70 zone.
DXY picks up pace and advances to fresh tops around 104.30 at the end of the week.
A clear breakout of the 104.00 region could pave the way for a potential visit to the May top of 104.69 (May 31) prior to the 2023 peak of 105.88 (March 8) in the relatively short-term horizon.
While above the key 200-day SMA, today at 103.12, the outlook for the index is expected to shift to a more constructive one.
DXY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.