- The DXY reverses part of the recent two-day advance on Monday.
- The bulls continue to target the 104.50 area in the short term.
He DXY moderates partially the strong rise recorded in the second half of last week and challenges the key 104.00 area on Monday.
If the bulls regain control, the DXY should revisit the monthly high of 104.44 (August 25), just before the May high of 104.69 (May 31). A break of this level could trigger a probable test of the 2023 high at 105.88 (March 8) to reappear on the horizon.
As long as it holds above the key 200-day SMA, today at 103.04, the outlook for the index is expected to remain constructive.
DXY daily chart
Spot Dollar Index
|Last price today||104.07|
|Today Daily Variation||-0.20|
|today’s daily variation||-0.19|
|today’s daily opening||104.27|
|previous daily high||104.29|
|previous daily low||103.27|
|Previous Weekly High||104.36|
|previous weekly low||102.93|
|Previous Monthly High||104.44|
|Previous monthly minimum||101.74|
|Fibonacci daily 38.2||103.9|
|Fibonacci 61.8% daily||103.66|
|Daily Pivot Point S1||103.6|
|Daily Pivot Point S2||102.93|
|Daily Pivot Point S3||102.58|
|Daily Pivot Point R1||104.61|
|Daily Pivot Point R2||104.96|
|Daily Pivot Point R3||105.63|
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.