US Dollar Index Price Analysis: 100-SMA, monthly support defend DXY bulls


  • DXY pares intraday losses, keeps bounces off 92.55 support confluence.
  • MACD eases bearish bias but bulls are reluctant around multi-day tops.

US Dollar Index (DXY) picks up bids to 92.83 amid early Friday. In doing so, the greenback gauge keeps the previous day’s bounce off a convergence of 100-SMA and a one-month-old support line. However, the bulls are less active while waiting for the preliminary readings of July PMI.

Considering the gradually easing bearish bars of the MACD histograms, the DXY upside momentum seems to tighten towards the monthly high, also the highest since April, near 93.20.

However, any further won’t hesitate to refresh the yearly high by crossing the latest one near 93.45, aiming the August 2020 peak close to the 94.00 threshold.

On the contrary, a clear downside break of 92.55 will be important for the US Dollar Index to recall the short-term bears targeting the 92.00 round figure.

In a case where DXY bears dominate past 92.00, late June’s swing low near 91.50 should return to the chart.

Overall, the gauge grinds higher until staying beyond 92.55.

DXY: Four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price 92.84
Today Daily Change 0.00
Today Daily Change % 0.00%
Today daily open 92.84
 
Trends
Daily SMA20 92.45
Daily SMA50 91.28
Daily SMA100 91.48
Daily SMA200 91.36
 
Levels
Previous Daily High 92.92
Previous Daily Low 92.51
Previous Weekly High 92.83
Previous Weekly Low 92.08
Previous Monthly High 92.45
Previous Monthly Low 89.66
Daily Fibonacci 38.2% 92.77
Daily Fibonacci 61.8% 92.67
Daily Pivot Point S1 92.59
Daily Pivot Point S2 92.34
Daily Pivot Point S3 92.18
Daily Pivot Point R1 93.01
Daily Pivot Point R2 93.17
Daily Pivot Point R3 93.42

 

 

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