USD Index Price Analysis: Initial support emerges around 111.50

DXY adds to Friday’s recovery attempt and advances past 112.00.
Bulls continue to target the 2022 peak near 114.80 near term.

Pablo Piovano FXStreet

DXY extends the ongoing bull run to the 112.50 zone at the beginning of the week.

The index retreated from recent extreme overbought levels and seems to have met some decent contention near 111.50 so far. If the recovery picks up extra pace the index could see the 2022 high at 114.77 (September 28) revisited in the short-term horizon.

The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 107.20.

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 102.53.

DXY daily chart

Dollar Index Spot

Overview
Today last price	112.36
Today Daily Change	79
Today Daily Change %	0.17
Today daily open	112.17

Trends
Daily SMA20	110.9
Daily SMA50	108.81
Daily SMA100	106.71
Daily SMA200	102.56

Levels
Previous Daily High	112.7
Previous Daily Low	111.57
Previous Weekly High	114.78
Previous Weekly Low	111.57
Previous Monthly High	114.78
Previous Monthly Low	107.67
Daily Fibonacci 38.2%	112.27
Daily Fibonacci 61.8%	112
Daily Pivot Point S1	111.6
Daily Pivot Point S2	111.02
Daily Pivot Point S3	110.47
Daily Pivot Point R1	112.72
Daily Pivot Point R2	113.27
Daily Pivot Point R3	113.85

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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