USD Index Price Analysis: Initial resistance now comes at 104.40

DXY treads water around 104.20/30 at the beginning of the week.
Further upside needs to clear the May top at 104.41.

Pablo Piovano FXStreet

DXY struggles to extend further the May rally on Monday.

Further upside appears on the cards in the near term. That said, the surpass of the May high at 104.41 (May 26) should put a potential visit to the key 200-day SMA, today at 105.67, back on the radar ahead of the 2023 peak 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	104.27
Today Daily Change	26
Today Daily Change %	0.04
Today daily open	104.23

Trends
Daily SMA20	102.56
Daily SMA50	102.28
Daily SMA100	102.86
Daily SMA200	105.57

Levels
Previous Daily High	104.42
Previous Daily Low	103.84
Previous Weekly High	104.42
Previous Weekly Low	102.96
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	104.2
Daily Fibonacci 61.8%	104.06
Daily Pivot Point S1	103.91
Daily Pivot Point S2	103.59
Daily Pivot Point S3	103.34
Daily Pivot Point R1	104.48
Daily Pivot Point R2	104.74
Daily Pivot Point R3	105.06

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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