USD Index Price Analysis: Extra gains should revisit the YTD high


  • DXY reverses three consecutive daily drops on Monday.
  • The continuation of the rebound shifts the attention to the 2023 top.

DXY regains composure and manages to partially reverse the recent three-day decline so far at the beginning of the week.

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 103.17, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price 106.38
Today Daily Change 50
Today Daily Change % 0.27
Today daily open 106.09
 
Trends
Daily SMA20 105.78
Daily SMA50 104.34
Daily SMA100 103.45
Daily SMA200 103.17
 
Levels
Previous Daily High 106.98
Previous Daily Low 105.95
Previous Weekly High 107.35
Previous Weekly Low 105.95
Previous Monthly High 106.84
Previous Monthly Low 103.27
Daily Fibonacci 38.2% 106.34
Daily Fibonacci 61.8% 106.59
Daily Pivot Point S1 105.7
Daily Pivot Point S2 105.31
Daily Pivot Point S3 104.67
Daily Pivot Point R1 106.73
Daily Pivot Point R2 107.37
Daily Pivot Point R3 107.76

 

 

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