US Dollar Index Price Analysis: Downside seen as corrective only

DXY meets some decent resistance in the 95.80 region.
The upside remains underpinned by the 4-month line near 95.30.

Pablo Piovano FXStreet

DXY is giving away part of the recent strong advance and returning to the 95.50 zone on Wednesday.

The intense upside in the dollar has recently surpassed the 4-month line, today around 95.25, and in doing so it has reinstated the bullish bias in the near term. That said, the next target of note should now come at the YTD high at 96.46 recorded on January 4 ahead of the 2021 high at 96.93 (November 24).

Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.17.

Dollar Index Spot

Overview
Today last price	95.6
Today Daily Change	21
Today Daily Change %	-0.15
Today daily open	95.74

Trends
Daily SMA20	95.81
Daily SMA50	95.98
Daily SMA100	94.76
Daily SMA200	93.19

Levels
Previous Daily High	95.83
Previous Daily Low	95.13
Previous Weekly High	96.24
Previous Weekly Low	94.63
Previous Monthly High	96.92
Previous Monthly Low	95.57
Daily Fibonacci 38.2%	95.56
Daily Fibonacci 61.8%	95.4
Daily Pivot Point S1	95.3
Daily Pivot Point S2	94.86
Daily Pivot Point S3	94.6
Daily Pivot Point R1	96
Daily Pivot Point R2	96.27
Daily Pivot Point R3	96.7

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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