- DXY’s bullish momentum builds up additional strength.
- The dollar hits new cycle highs around 104.70.
The dollar keeps the supply bias unchanged and pushes the US dollar index (DXY) to fresh 19-year highs in the 104.70 area on Thursday.
Considering the ongoing price action, further gains in the index remain good with the immediate hurdle at the round level at 105.00 ahead of 105.63 (11 Dec 2002 high). Above, the index is expected to challenge the December 2002 high at 107.31.
The current bullish stance on the index remains supported by the 8-month line around 97.00, while the longer-term outlook for the dollar is seen as constructive above the 200-day SMA at 96.21.
DXY daily chart
Technical levels
Dollar Index Spot
| Panorama | |
|---|---|
| Last Price Today | 104.51 |
| Today’s Daily Change | 0.50 |
| Today’s Daily Change % | 0.48 |
| Today’s Daily Opening | 104.01 |
| Trends | |
|---|---|
| 20 Daily SMA | 102.35 |
| 50 Daily SMA | 100.27 |
| 100 Daily SMA | 98.15 |
| 200 Daily SMA | 96.18 |
| levels | |
|---|---|
| Previous Daily High | 104.11 |
| Previous Daily Minimum | 103.38 |
| Previous Maximum Weekly | 104.07 |
| Previous Weekly Minimum | 102.34 |
| Monthly Prior Maximum | 103.94 |
| Previous Monthly Minimum | 98.31 |
| Daily Fibonacci 38.2% | 103.83 |
| Daily Fibonacci 61.8% | 103.66 |
| Daily Pivot Point S1 | 103.56 |
| Daily Pivot Point S2 | 103.1 |
| Daily Pivot Point S3 | 102.82 |
| Daily Pivot Point R1 | 104.29 |
| Daily Pivot Point R2 | 104.57 |
| Daily Pivot Point R3 | 105.03 |
Source: Fx Street
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