US Dollar Index Price Analysis: Downside pressure alleviated above 91.00

DXY corrects lower after flirting with the 91.00 level on Monday.
Interim hurdle lines up at the 55-day SMA at 91.09.

Pablo Piovano FXStreet

DXY met sellers in the 91.00 neighbourhood on Monday and now retreats to the 90.50 region on turnaround Tuesday.

Despite the ongoing rebound, the prospect for the greenback remains fragile. That said, a re-visit of the 90.00 yardstick should not surprise anyone in the short-term horizon. Below this psychological level is located the 2021 lows around 89.20 ahead of the March 2018 low at 88.94.

A surpass of the 91.00 region should mitigate the downside pressure somewhat. The 55-day SMA, today ay 91.09, reinforces this interim hurdle.

The ongoing rebound is seen as corrective only and in the longer run, as long as DXY trades below the 200-day SMA, today at 94.42, the negative view is forecast to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.49
Today Daily Change	32
Today Daily Change %	-0.31
Today daily open	90.77

Trends
Daily SMA20	90.14
Daily SMA50	90.97
Daily SMA100	92.17
Daily SMA200	94.47

Levels
Previous Daily High	90.95
Previous Daily Low	90.74
Previous Weekly High	90.78
Previous Weekly Low	89.92
Previous Monthly High	92.02
Previous Monthly Low	89.52
Daily Fibonacci 38.2%	90.82
Daily Fibonacci 61.8%	90.87
Daily Pivot Point S1	90.69
Daily Pivot Point S2	90.61
Daily Pivot Point S3	90.48
Daily Pivot Point R1	90.9
Daily Pivot Point R2	91.03
Daily Pivot Point R3	91.11

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD keeps range near mid-0.7100s as USD bulls await US CPI

AUD/USD steadies near mid-0.7100s in the Asian session on Friday, stalling the previous day's sharp decline to an over one-week low. The August PPI report reaffirmed Fed rate-hike bets and boosted the US Dollar on Thursday, which weighed heavily on the pair. However, hawkish RBA expectations limited losses for the Aussie as USD bulls now await the release of the US consumer inflation figures before placing fresh bets.

USD/JPY holds lower ground toward 154.00; looks to US CPI

USD/JPY holds lower ground toward 154.00 in the Asian session on Friday after hot Japanese PPI data bolster a more hawkish BoJ repricing and provide fresh impetus to the Japanese Yen. However, the downside appears capped as the US Dollar preserves overnight gains ahead of the latest US consumer inflation data.

Gold: Gains remain capped by $4,400

Gold regains composure and trades with decent gains on Friday, managing to refocus attention on the $4,440 mark per ounce troy. Therefore, the precious metal reverses Thursday’s decline as the US Dollar alternates gains with losses at the end of the week.

Ripple Price Forecast: XRP extends decline as returning ETF inflows fail to lift outlook

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.

Weekly focus – The hawks set the tone

Risky assets came under pressure this week as energy prices kept creeping higher and the ECB surprised the markets with a hawkish tone. The price of Brent crude touched USD 110 per barrel on Thursday night, highest since mid-May, as news emerged that the Yemeni Houthis had reached control of key port cities and islands near the Bab el-Mandeb strait.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.