US Dollar Index Price Analysis: DXY eases from key resistance structure around 92.00


  • DXY edges higher close to two-month top flashed the previous day.
  • 50% Fibonacci Retracement, multiple levels since August 2020 probe buyers.
  • Sellers may not take risk of entry beyond 200-DMA.
  • Further gains envisioned on bullish MACD, sustained trading above the key SMA.

US dollar index (DXY) steps back from mid-April tops during early a sluggish Asian session on Friday. That said, the DXY seesaws around 91.90 after rising to the fresh high in nine weeks the previous day.

In doing so, the greenback buyers consolidate recent gains from 50% Fibonacci retracement of September 2020 to January 2021 downside, as well as a 10-month-old horizontal resistance area, surrounding 91.95–92.00.

Even so, the bullish MACD and the quote’s sustained trading beyond 200-day SMA (DMA) backs the DXY bulls to overcome the 92.00 hurdle, which in turn could aim for an early March high of 92.50.

However, any further upside will be questioned by 61.8% Fibonacci retracement and the yearly resistance line, respectively around 92.65 and 92.90.

Meanwhile, pullback moves can be less worrisome until staying beyond the 200-DMA level of 91.51.

It’s worth noting that tops marked in February and May, around 91.60 and 91.43 respectively, act as additional filters to the downside.

DXY daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 91.91
Today Daily Change 0.00
Today Daily Change % 0.00%
Today daily open 91.91
 
Trends
Daily SMA20 90.26
Daily SMA50 90.66
Daily SMA100 91.07
Daily SMA200 91.52
 
Levels
Previous Daily High 92.01
Previous Daily Low 91.31
Previous Weekly High 90.61
Previous Weekly Low 89.84
Previous Monthly High 91.44
Previous Monthly Low 89.54
Daily Fibonacci 38.2% 91.74
Daily Fibonacci 61.8% 91.58
Daily Pivot Point S1 91.48
Daily Pivot Point S2 91.04
Daily Pivot Point S3 90.77
Daily Pivot Point R1 92.18
Daily Pivot Point R2 92.45
Daily Pivot Point R3 92.88

 

 

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