USD Index Price Analysis: Extra upside should not be ruled out

DXY meets some resistance around the 104.30 region so far.
Extra upside should face the key 200-day SMA near 105.70.

Pablo Piovano FXStreet

DXY retreats for the first session after four consecutive daily gains, putting the 104.00 region to the test at the end of the week.

Further upside appears on the cards in the near term. That said, the next resistance level of note is expected at the key 200-day SMA, today at 105.69 ahead of the 2023 top of 105.88 (March 8).

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	103.96
Today Daily Change	33
Today Daily Change %	-0.26
Today daily open	104.23

Trends
Daily SMA20	102.43
Daily SMA50	102.28
Daily SMA100	102.86
Daily SMA200	105.6

Levels
Previous Daily High	104.31
Previous Daily Low	103.82
Previous Weekly High	103.63
Previous Weekly Low	102.2
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	104.12
Daily Fibonacci 61.8%	104.01
Daily Pivot Point S1	103.93
Daily Pivot Point S2	103.63
Daily Pivot Point S3	103.44
Daily Pivot Point R1	104.42
Daily Pivot Point R2	104.61
Daily Pivot Point R3	104.91

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.

EUR/USD holds steady above 1.1850 in quiet session

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day holiday.

GBP/USD flat lines near 1.3650 ahead of UK and US data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.3650 on Monday. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important data releases from the UK and the US.

Gold corrects lower, tries to stabilize above $5,000

Gold started the week under bearish pressure and declined to the $4,960 area before staging a modest rebound. As trading volumes remain thin with the US financial markets remaining closed on Presidents' Day holiday, XAU/USD looks to stabilize above $5,000 ahead of this week's key data releases.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.