USD Index Price Analysis: Next hurdle emerges around 106.00

Pablo Piovano FXStreet

- DXY navigates within a tight range still below 106.00.

- Further upside momentum should challenge the 106.00 barrier.

DXY looks to extend further last week’s rebound, although the 106.00 region proves to be quite a strong barrier for the time being.

Once the 106.00 hurdle is cleared, the index could then embark on a potential test of the November peak at 107.11 (November 1) ahead of the 2023 high of 107.34 (October 3).

In the meantime, while above the key 200-day SMA, today at 103.60, the outlook for the index is expected to remain constructive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	105.88
Today Daily Change	21
Today Daily Change %	0.08
Today daily open	105.8

Trends
Daily SMA20	106.09
Daily SMA50	105.84
Daily SMA100	104.12
Daily SMA200	103.6

Levels
Previous Daily High	106.01
Previous Daily Low	105.74
Previous Weekly High	106.01
Previous Weekly Low	104.85
Previous Monthly High	107.35
Previous Monthly Low	105.35
Daily Fibonacci 38.2%	105.84
Daily Fibonacci 61.8%	105.91
Daily Pivot Point S1	105.69
Daily Pivot Point S2	105.59
Daily Pivot Point S3	105.43
Daily Pivot Point R1	105.96
Daily Pivot Point R2	106.11
Daily Pivot Point R3	106.22

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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