US Dollar Index Price Analysis: Extra gains in the pipeline

DXY moves to new 2021 highs near 91.50.
Further up emerges the 100-day SMA around 91.90.

Pablo Piovano FXStreet

DXY regains the smile and the upside following Wednesday’s pullback and advances to the 91.50 area, or fresh YTD peaks.

The recent surpass of the 91.00 area gives extra legs to the dollar’s recovery and could motivate the index to attempt a test of, initially, the 100-day SMA in the vicinity of 91.90 in the near-term. The recent breakout of the 2020-2021 resistance line (around 90.80) has mitigated the downside pressure somewhat and reinforces this view.

The ongoing rebound is seen as corrective only and in the longer run, as long as DXY trades below the 200-day SMA, today at 93.86 the bearish stance is expected to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	91.45
Today Daily Change	40
Today Daily Change %	0.37
Today daily open	91.11

Trends
Daily SMA20	90.46
Daily SMA50	90.5
Daily SMA100	91.87
Daily SMA200	93.91

Levels
Previous Daily High	91.3
Previous Daily Low	90.99
Previous Weekly High	90.89
Previous Weekly Low	90.08
Previous Monthly High	90.95
Previous Monthly Low	89.21
Daily Fibonacci 38.2%	91.18
Daily Fibonacci 61.8%	91.11
Daily Pivot Point S1	90.97
Daily Pivot Point S2	90.82
Daily Pivot Point S3	90.66
Daily Pivot Point R1	91.28
Daily Pivot Point R2	91.45
Daily Pivot Point R3	91.59

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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