DXY Price Analysis: Chances of Visiting 2022 Peak Increase

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  • DXY with an intraday bullish bias, moving around 110.00.
  • Further rally could lead to a new cycle high near 110.80.

The Dollar Index (DXY) resumes gains after Friday’s decline.

Despite the ongoing consolidation, the near-term dollar’s bullish view remains unchanged as it stands above the 7-month support line near 106.50. On the contrary, for the time being a further move higher towards the high of the last few years around 110.80 is still possible.

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In the longer term, DXY is expected to maintain its constructive stance as long as it is above the 200 SMA at 101.73.

DXY day chart

Dollar Index Spot

Last Price Today 109.89
Today’s Daily Change 0.25
Today’s Daily Change % 0.23
Today’s Daily Opening 109.64
20 Daily SMA 109.22
50 Daily SMA 107.77
100 Daily SMA 105.79
200 Daily SMA 101.68
Previous Daily High 110.26
Previous Daily Minimum 109.47
Previous Maximum Weekly 110.26
Previous Weekly Minimum 107.67
Monthly Prior Maximum 109.48
Previous Monthly Minimum 104.64
Daily Fibonacci 38.2% 109.77
Daily Fibonacci 61.8% 109.96
Daily Pivot Point S1 109.32
Daily Pivot Point S2 109
Daily Pivot Point S3 108.53
Daily Pivot Point R1 110.11
Daily Pivot Point R2 110.58
Daily Pivot Point R3 110.9

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Source: Fx Street

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