US Dollar Index Price Analysis: Extra gains could see 94.30 re-tested

DXY prints 2021 highs beyond the 93.00 mark on Tuesday.
Further north comes in the November 2020 high near 94.30.

Pablo Piovano FXStreet

The dollar extends the rally further and manages well to finally break above the key barrier at 93.00 the figure when tracked by the US Dollar Index (DXY).

Against this, the continuation of the uptrend looks likely in the short-term horizon. That said, there are no relevant up barriers until the November 2020 highs in the 94.25/30 band.

The downside pressure around the index looks alleviated after the recent breakout of the 200-day SMA (92.52). If DXY manages to keep business above the latter on a sustainable basis, then the outlook should shift to constructive, at least in the near-term.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.1
Today Daily Change	29
Today Daily Change %	0.18
Today daily open	92.93

Trends
Daily SMA20	91.93
Daily SMA50	91.12
Daily SMA100	91.04
Daily SMA200	92.54

Levels
Previous Daily High	92.96
Previous Daily Low	92.72
Previous Weekly High	92.92
Previous Weekly Low	91.71
Previous Monthly High	91.6
Previous Monthly Low	89.68
Daily Fibonacci 38.2%	92.87
Daily Fibonacci 61.8%	92.81
Daily Pivot Point S1	92.78
Daily Pivot Point S2	92.63
Daily Pivot Point S3	92.54
Daily Pivot Point R1	93.03
Daily Pivot Point R2	93.12
Daily Pivot Point R3	93.27

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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