US Dollar Index Price Analysis: Decent resistance lines up at 105.00

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  • DXY leaves behind two daily pullbacks in a row.
  • Further up the weekly high emerges near 105.00.

The US Dollar Index (DXY) He recovers his smile and manages to stage a fairly moderate rebound to the 104.00 area on Tuesday.

Ideally, the index should break above the weekly high near 105.00 (June 22) in the short term for the recovery to gain momentum and attempt to visit the near 20-year high around 105.80 (June 15). On the other hand, a break of the lower bound of the range could force the index to challenge the weekly low of 103.42 (June 16).

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As long as the 4-month line near 102.20 contains the downside, the short-term outlook for the index should remain constructive.

In the longer term, the outlook for the dollar is bullish as long as it is above the 200-day SMA at 97.95.

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DXY daily chart

Technical levels

Dollar Index Spot

Last Price Today 104.36
Today’s Daily Change 0.40
Today’s Daily Change % 0.38
Today’s Daily Opening 103.96
20 Daily SMA 103.63
50 Daily SMA 103.11
100 Daily SMA 100.6
200 Daily SMA 97.92
Previous Daily High 104.22
Previous Daily Minimum 103.67
Previous Maximum Weekly 104.95
Previous Weekly Minimum 103.86
Monthly Prior Maximum 105.01
Previous Monthly Minimum 101.3
Daily Fibonacci 38.2% 103.88
Daily Fibonacci 61.8% 104.01
Daily Pivot Point S1 103.68
Daily Pivot Point S2 103.4
Daily Pivot Point S3 103.13
Daily Pivot Point R1 104.23
Daily Pivot Point R2 104.5
Daily Pivot Point R3 104.77

Source: Fx Street

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