US Dollar Index Price Analysis: Next upside target emerges at 104.21

  • The DXY adds to Monday’s advance and exceeds 103.80.
  • Further gains above the 200-day SMA are expected.

He US Dollar Index (DXY) extends the bullish bias so far this week and flirts with multi-session highs in the 103.80/85 area on Tuesday.

If the key 200-day SMA (103.57) is broken sustainably, the DXY is expected to face more sustained gains to initially the weekly high of 104.21 (Nov 22) before the transitory 100-day SMA at 104.41.

Meanwhile, above the key 200-day SMA, the DXY outlook is expected to change to bullish.

DXY Daily Chart

Dollar Index Spot

Overview
Latest price today 103.78
Today Daily variation 28
Today’s daily variation 0.14
Today’s daily opening 103.63
Trends
daily SMA20 104.12
daily SMA50 105.42
SMA100 daily 104.39
SMA200 daily 103.58
Levels
Previous daily high 103.85
Previous daily low 103.05
Previous weekly high 103.73
Previous weekly low 102.47
Previous Monthly High 107.11
Previous monthly low 102.47
Daily Fibonacci 38.2 103.54
Fibonacci 61.8% daily 103.35
Daily Pivot Point S1 103.17
Daily Pivot Point S2 102.7
Daily Pivot Point S3 102.36
Daily Pivot Point R1 103.98
Daily Pivot Point R2 104.32
Daily Pivot Point R3 104.79

Source: Fx Street

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