Categories: Markets

US Dollar Index Price Analysis: Initial Bullish Barrier Lies at 100-Day SMA

US Dollar Index Price Analysis: Initial Bullish Barrier Lies at 100-Day SMA
  • The DXY adds to the ongoing bounce and approaches 108.00.
  • If it continues to go higher, you could see the 100-day SMA again near 109.20.

The US dollar (DXY) it advances for the third session in a row and trades near 108.00 on Monday.

The continuation of the uptrend is targeting the temporary hurdle of the 100-day SMA today at 109.18, ahead of the resistance line around 109.70. Exceeding the latter could cause earnings to pick up in the short term.

As long as it is above the 200-day SMA at 105.11, the outlook for the index should remain constructive. This area is also bolstered by the November low at 105.34 (15 Nov).

DXY daily chart

Spot Dollar Index

Overview
Last price today 107.76
today’s daily change 102
Today’s daily change in % 0.77
today’s daily opening 106.94
Trends
daily SMA20 108.72
daily SMA50 110.78
daily SMA100 109.31
daily SMA200 105.52
levels
previous daily high 106.97
previous daily low 106.94
Previous Weekly High 107.27
previous weekly low 105.32
Previous Monthly High 113.95
Previous monthly minimum 109.54
Daily Fibonacci of 38.2% 106.95
Daily Fibonacci of 61.8% 106.96
Daily Pivot Point S1 106.93
Daily Pivot Point S2 106.92
Daily Pivot Point S3 106.9
Daily Pivot Point R1 106.96
Daily Pivot Point R2 106.98
Daily Pivot Point R3 106.99

Source: Fx Street