US Dollar Index Price Analysis: Odds Increase for a Move to 200-Day SMA

The DXY maintains the bullish tone and advances above 104.60.
Further gains could extend to the 200-day SMA near 105.60.

He DXY adds to Tuesday’s advance and hits new multi-week highs in the 104.60/65 zone on Wednesday.

In the short term, additional gains are anticipated. That being said, the breach of the May high at 104.63 (May 31) should put a possible visit to the key 200-day SMA back on the radar today at 105.63 ahead of the 2023 high at 105.88 (March 8). .

Overall, as long as it stays below the 200-day SMA, the outlook for the index will remain negative.

DXY daily chart

Spot Dollar Index

Overview
Last price today	104.45
Today Daily Variation	62
today’s daily variation	0.38
today’s daily opening	104.05

Trends
daily SMA20	102.77
daily SMA50	102.32
daily SMA100	102.88
daily SMA200	105.53

levels
previous daily high	104.53
previous daily low	103.88
Previous Weekly High	104.42
previous weekly low	102.96
Previous Monthly High	103.06
Previous monthly minimum	100.79
Fibonacci daily 38.2	104.13
Fibonacci 61.8% daily	104.28
Daily Pivot Point S1	103.77
Daily Pivot Point S2	103.49
Daily Pivot Point S3	103.11
Daily Pivot Point R1	104.43
Daily Pivot Point R2	104.81
Daily Pivot Point R3	105.09

Source: Fx Street

Joshua

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.