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US Dollar Index Price Analysis: More gains expected in the near term

  • The DXY is under pressure and returns to the 105.00 area.
  • A further rise could see the recent years high near 105.60 revised.

The DXY moderated in its recent strong rise to some extent and retreats to the 105.00 area at the end of the week.

The continuation of the multi-week rally is now expected to shift attention towards the 2023 high of 105.88 (March 8) before the round level of 106.00.

As long as it remains above the key 200-day SMA, today at 103.03, the outlook for the index is expected to remain constructive.

DXY daily chart

Spot Dollar Index

Latest price today 105
daily change today 31
Today’s daily variation -0.06
Today’s daily opening 105.06
daily SMA20 103.77
daily SMA50 102.54
SMA100 daily 102.66
SMA200 daily 103.04
Previous daily high 105.16
Previous daily low 104.8
Previous weekly high 104.36
Previous weekly low 102.93
Previous Monthly High 104.44
Previous monthly low 101.74
Daily Fibonacci 38.2 105.02
Fibonacci 61.8% daily 104.94
Daily Pivot Point S1 104.86
Daily Pivot Point S2 104.66
Daily Pivot Point S3 104.51
Daily Pivot Point R1 105.21
Daily Pivot Point R2 105.36
Daily Pivot Point R3 105.56

Source: Fx Street

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