US Dollar Index Price Analysis: DXY battles monthly resistance after Monday’s Doji

DXY struggles for clear direction after posting a bearish candlestick formation.
50-DMA adds to the upside barriers, bullish MACD favors buyers.

Anil Panchal FXStreet

US dollar index (DXY) remains sidelined around 90.51 during Tuesday’s Asian session. In doing so, the greenback gauge seesaws around a one-month-old falling trend line after printing a bearish Doji candlestick the previous day.

It should, however, be noted that bullish MACD and an ascending trend line from May 25 keep buyers hopeful.

Hence, fresh upside needs to cross 50-day SMA (DMA) hurdle near 90.75 to challenge the May 13 top near 90.91 and the previous month’s high surrounding 91.45.

Meanwhile, pullback moves may aim for 90.00 but any further weakness will be questioned by the stated support line near 89.90.

Overall, DXY remains on the bull’s radar but requires confirmation of the further upside.

DXY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	90.52
Today Daily Change	0.02
Today Daily Change %	0.02%
Today daily open	90.5

Trends
Daily SMA20	90.05
Daily SMA50	90.71
Daily SMA100	91.05
Daily SMA200	91.55

Levels
Previous Daily High	90.6
Previous Daily Low	90.41
Previous Weekly High	90.61
Previous Weekly Low	89.84
Previous Monthly High	91.44
Previous Monthly Low	89.54
Daily Fibonacci 38.2%	90.49
Daily Fibonacci 61.8%	90.53
Daily Pivot Point S1	90.41
Daily Pivot Point S2	90.32
Daily Pivot Point S3	90.22
Daily Pivot Point R1	90.6
Daily Pivot Point R2	90.69
Daily Pivot Point R3	90.79

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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