US Dollar Index Price Analysis: Decent support appears around 104.00

• DXY is trading in a range above 104.00.
• The next move up is the 2022 high near 105.80.

The US Dollar Index (DXY) regains some composure above 104.00, reversing three consecutive daily pullbacks at the same time.

Ideally, the index should break above weekly highs in the 105.00 area in the short term for the recovery to gain momentum and attempt a visit to the almost 20-year high in the 105.80 area (June 15).

As long as the 4-month line around 102.00 contains the declines, 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 97.79.

DXY daily chart

Technical levels