- US Dollar Index (DXY) maintains weekly bounce near 106.80.
- A further rally seems likely once it breaks above 107.00.
The US Dollar Index (DXY) down quickly on Tuesday’s inconclusive price action and resumes rally towards upper end of recent range near 106.80.
The continuation of the bullish momentum could extend to the August high near 107.00 (Aug 5). Breaking above this level should prompt the index to challenge the post-FOMC meeting high at 107.42 (July 27).
In a broader scenario, the bullish view of the dollar remains above the 200-day SMA at 100.22.
DXY daily chart
Dollar Index Spot
|Last Price Today||106.74|
|Today’s Daily Change||0.28|
|Today’s Daily Change %||0.26|
|Today’s Daily Opening||106.46|
|20 Daily SMA||106.23|
|50 Daily SMA||105.74|
|100 Daily SMA||103.73|
|200 Daily SMA||100.11|
|Previous Daily High||106.94|
|Previous Daily Minimum||106.32|
|Previous Maximum Weekly||106.81|
|Previous Weekly Minimum||104.64|
|Monthly Prior Maximum||109.29|
|Previous Monthly Minimum||104.69|
|Daily Fibonacci 38.2%||106.56|
|Daily Fibonacci 61.8%||106.7|
|Daily Pivot Point S1||106.2|
|Daily Pivot Point S2||105.94|
|Daily Pivot Point S3||105.57|
|Daily Pivot Point R1||106.83|
|Daily Pivot Point R2||107.2|
|Daily Pivot Point R3||107.46|
Source: Fx Street