USD Index Price Analysis: Extra gains target the May high near 104.80

DXY adds to Friday’s gains well north of the 104.00 barrier.
Further upside is seen revisiting the May top around 104.80.

Pablo Piovano FXStreet

DXY’s rebound picks up pace and tests 2-day highs past the 104.00 hurdle on Monday.

Considering the current price action, further advances could initially see the May top of 104.79 (May 31) revisited in the relatively near term. From here, the index could target the minor hurdle at the round level of 105.00 ahead of the crucial 200-day SMA, today at 105.56.

Looking at the broader picture, while below the 200-day SMA, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.32
Today Daily Change	29
Today Daily Change %	0.27
Today daily open	104.04

Trends
Daily SMA20	103.16
Daily SMA50	102.39
Daily SMA100	102.92
Daily SMA200	105.45

Levels
Previous Daily High	104.09
Previous Daily Low	103.38
Previous Weekly High	104.7
Previous Weekly Low	103.38
Previous Monthly High	104.7
Previous Monthly Low	101.03
Daily Fibonacci 38.2%	103.82
Daily Fibonacci 61.8%	103.65
Daily Pivot Point S1	103.58
Daily Pivot Point S2	103.13
Daily Pivot Point S3	102.87
Daily Pivot Point R1	104.29
Daily Pivot Point R2	104.54
Daily Pivot Point R3	105

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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