- DXY bulls take a breather around 10-week top.
- Sustained break of 200-DMA, 61.8% Fibonacci retracement back upside momentum.
- Highs marked from early March probe buyers ahead of the yearly top.
US dollar index (DXY) picks up bids around 92.30, reverses early Asian losses, during Monday’s pre-European session trading.
The greenback gauge jumped to the highest since April 09 the previous day before stepping back from 92.40. Even so, the index keeps the latest week’s upside break of 200-day SMA (DMA) and 61.8% Fibonacci retracement of March-May declines amid the firmer Momentum line.
The same joins the rush to risk-safety that puts a safe-haven bid under the US dollar to keep the DXY on the bull’s radar.
However, a horizontal area comprising multiple tops marked since early Mach, around 92.50-55, becomes a tough nut to crack for the USD bulls before targeting the yearly high of 93.43.
During the run-up, the 92.90 and the 93.00 threshold may also act as short-term resistances.
Meanwhile, pullback moves may initial aim for 61.8% Fibonacci retracement level surrounding 91.95 before challenging the 91.50-48 support confluence including 200-day SMA and 50% Fibonacci retracement.
Even if the DXY drops below 91.48, March’s low near 91.30 can act as an extra filter to the south.
DXY daily chart
Additional important levels
|Today last price||92.3|
|Today Daily Change||-0.02|
|Today Daily Change %||-0.02%|
|Today daily open||92.32|
|Previous Daily High||92.4|
|Previous Daily Low||91.81|
|Previous Weekly High||92.4|
|Previous Weekly Low||90.35|
|Previous Monthly High||91.44|
|Previous Monthly Low||89.54|
|Daily Fibonacci 38.2%||92.18|
|Daily Fibonacci 61.8%||92.04|
|Daily Pivot Point S1||91.95|
|Daily Pivot Point S2||91.59|
|Daily Pivot Point S3||91.36|
|Daily Pivot Point R1||92.55|
|Daily Pivot Point R2||92.77|
|Daily Pivot Point R3||93.14|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.