USD Index Price Analysis: Immediately to the upside comes 106.80

DXY reverses Monday’s negative performance and retests 106.50.
Further gains could see the 106.80 area revisited in the near term.

Pablo Piovano FXStreet

DXY manages to regain balance and advance to the 106.50 region on Tuesday.

Considering the ongoing price action, the surpass of the weekly high of 106.78 (October 12) could encourage the index to embark on a potential test of the 2023 top of 107.34 (October 3) in the short-term horizon.

In the meantime, while above the key 200-day SMA, today at 103.23, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	106.43
Today Daily Change	42
Today Daily Change %	0.22
Today daily open	106.2

Trends
Daily SMA20	106.15
Daily SMA50	104.81
Daily SMA100	103.58
Daily SMA200	103.23

Levels
Previous Daily High	106.66
Previous Daily Low	106.19
Previous Weekly High	106.79
Previous Weekly Low	105.54
Previous Monthly High	106.84
Previous Monthly Low	103.27
Daily Fibonacci 38.2%	106.36
Daily Fibonacci 61.8%	106.48
Daily Pivot Point S1	106.04
Daily Pivot Point S2	105.88
Daily Pivot Point S3	105.57
Daily Pivot Point R1	106.51
Daily Pivot Point R2	106.82
Daily Pivot Point R3	106.98

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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