DXY Price Analysis: Immediately on the upside comes 109.77

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  • DXY makes new cycle highs near 109.50 on Monday.
  • If it continues to rise, it could revisit the September 2002 high at 109.77.

The US Dollar Index (DXY) extends the rally after Powell’s exposure in Jackson Hole to the 109.50 area, while recording new cycle highs.

In the short term, the index could continue to rise. Breaking above the 2022 high at 109.47 (Aug 29) should open the door to the September 2002 high at 109.77 before the round level of 110.00.

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Meanwhile, if it remains above the 6-month support line around 105.40, the index is expected to maintain the positive stance in the short term.

As for the long-term scenario, the bullish view on the dollar remains as long as it is above the 200-day simple moving average at 100.74.

DXY day chart

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Dollar Index Spot

Panorama
Last Price Today 109
Today’s Daily Change 0.17
Today’s Daily Change % 0.16
Today’s Daily Opening 108.83
Trends
20 Daily SMA 106.85
50 Daily SMA 106.42
100 Daily SMA 104.48
200 Daily SMA 100.63
levels
Previous Daily High 108.87
Previous Daily Minimum 107.53
Previous Maximum Weekly 109.27
Previous Weekly Minimum 107.53
Monthly Prior Maximum 109.29
Previous Monthly Minimum 104.69
Daily Fibonacci 38.2% 108.36
Daily Fibonacci 61.8% 108.05
Daily Pivot Point S1 107.95
Daily Pivot Point S2 107.07
Daily Pivot Point S3 106.61
Daily Pivot Point R1 109.29
Daily Pivot Point R2 109.75
Daily Pivot Point R3 110.63

Source: Fx Street

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