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.

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