US Dollar Index Price Analysis: The rally to 2022 highs is just around the corner

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  • DXY breaks the 105.00 barrier with some conviction.
  • The 2022 high near 105.80 (June 15) is next.

The US Dollar Index (DXY) advances for the third session in a row and looks to consolidate the recent breakout of the 105.00 barrier on Thursday.

The index has quickly moved past the weekly high near 105.00 (June 22) and in doing so has opened the door for a possible relatively quick visit to 2022 highs near 105.80 (June 15).

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As long as the 4-month line near 102.30 contains the downside, the short-term outlook for the index should remain constructive.

In the longer term, the dollar’s outlook is bullish as long as it is above the 200-day SMA at 98.08.

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DXY daily chart

Technical levels

Dollar Index Spot

Panorama
Last Price Today 105.48
Today’s Daily Change 0.37
Today’s Daily Change % 0.35
Today’s Daily Opening 105.11
Trends
20 Daily SMA 103.9
50 Daily SMA 103.27
100 Daily SMA 100.78
200 Daily SMA 98.03
levels
Previous Daily High 105.15
Previous Daily Minimum 104.36
Previous Maximum Weekly 104.95
Previous Weekly Minimum 103.86
Monthly Prior Maximum 105.01
Previous Monthly Minimum 101.3
Daily Fibonacci 38.2% 104.85
Daily Fibonacci 61.8% 104.66
Daily Pivot Point S1 104.59
Daily Pivot Point S2 104.08
Daily Pivot Point S3 103.8
Daily Pivot Point R1 105.38
Daily Pivot Point R2 105.66
Daily Pivot Point R3 106.18

Source: Fx Street

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