USD Index Price Analysis: The hunt for 105.00 and above

DXY regains unusually strong upside traction and targets 105.00.
The 100-day SMA at 104.95 emerges as the initial hurdle.

Pablo Piovano FXStreet

DXY gathers intense buying interest and climbs to 3-day highs near the 105.00 region on Tuesday, an area also underpinned by the temporary 100-day SMA.

The continuation of the strong rebound is expected to challenge the so far 2023 high at 105.88 (March 8) prior to the key 200-day SMA, today at 106.64.

Looking at the broader picture, while below the 200-day SMA, the outlook for the greenback is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	104.82
Today Daily Change	151
Today Daily Change %	1.11
Today daily open	103.67

Trends
Daily SMA20	104.53
Daily SMA50	103.45
Daily SMA100	104.49
Daily SMA200	106.84

Levels
Previous Daily High	104.06
Previous Daily Low	103.5
Previous Weekly High	105.89
Previous Weekly Low	104.05
Previous Monthly High	105.36
Previous Monthly Low	100.81
Daily Fibonacci 38.2%	103.85
Daily Fibonacci 61.8%	103.71
Daily Pivot Point S1	103.43
Daily Pivot Point S2	103.18
Daily Pivot Point S3	102.87
Daily Pivot Point R1	103.99
Daily Pivot Point R2	104.3
Daily Pivot Point R3	104.55

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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