US Dollar Index Price Analysis: DXY restores the run-up to 93.20

DXY regains above 50-DMA after crossing three-week-old resistance line.
Firmer RSI directs the bulls towards the key horizontal hurdle.
Ascending trend line from June, 100-DMA adds to the downside filters.

Anil Panchal FXStreet

US Dollar Index (DXY) stays on the front foot around a two-week top, near 92.70 during Thursday’s Asian session.

The greenback gauge jumped to the multi-day top after regaining its place beyond 50-DMA, following the break of a short-term descending trend line resistance.

With the RSI line backing the upside momentum, the DXY is likely rising towards a seven-week-old horizontal hurdle resistance area near 93.20. However, the latest high near 92.85 and the 93.00 threshold may offer intermediate halts during the advances.

It’s worth noting that a clear run-up beyond 93.20 won’t hesitate to challenge the yearly peak surrounding 93.72.

Meanwhile, pullback moves will have 50-DMA and the resistance-turned-support, respectively around 92.60 and 92.30, as nearby challenges.

Following that an ascending trend line from June 23, close to 92.05, will precede the 100-DMA level of 91.68 to challenge the US Dollar Index bears.

DXY: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	92.7
Today Daily Change	0.16
Today Daily Change %	0.17%
Today daily open	92.54

Trends
Daily SMA20	92.79
Daily SMA50	92.62
Daily SMA100	91.66
Daily SMA200	91.34

Levels
Previous Daily High	92.57
Previous Daily Low	92.1
Previous Weekly High	92.79
Previous Weekly Low	91.95
Previous Monthly High	93.73
Previous Monthly Low	91.82
Daily Fibonacci 38.2%	92.39
Daily Fibonacci 61.8%	92.28
Daily Pivot Point S1	92.24
Daily Pivot Point S2	91.94
Daily Pivot Point S3	91.77
Daily Pivot Point R1	92.7
Daily Pivot Point R2	92.87
Daily Pivot Point R3	93.17

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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