US Dollar Index Price Analysis: Extra gains seen above 90.60/70

Occasional bullish attempts in DXY remains capped by 90.60/70.
The 50-day SMA at 90.67 also reinforces this area of resistance.

Pablo Piovano FXStreet

DXY keeps flirting with the upper bound of the range near 90.60, although a break above this area remains elusive for dollar bulls.

Bullish moves, in the meantime, remain capped by the 90.50/60 band for the time being. As long as this area continues to cap the upside, there is still room for a potential drop to May’s low in the mid-89.00s.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.53 the outlook for the buck is forecast to remain negative.

EUR/USD daily chart

Dollar Index Spot

Overview
Today last price	90.55
Today Daily Change	24
Today Daily Change %	0.06
Today daily open	90.5

Trends
Daily SMA20	90.05
Daily SMA50	90.71
Daily SMA100	91.05
Daily SMA200	91.55

Levels
Previous Daily High	90.6
Previous Daily Low	90.41
Previous Weekly High	90.61
Previous Weekly Low	89.84
Previous Monthly High	91.44
Previous Monthly Low	89.54
Daily Fibonacci 38.2%	90.49
Daily Fibonacci 61.8%	90.53
Daily Pivot Point S1	90.41
Daily Pivot Point S2	90.32
Daily Pivot Point S3	90.22
Daily Pivot Point R1	90.6
Daily Pivot Point R2	90.69
Daily Pivot Point R3	90.79

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.

GBP/USD ranges below 1.3450 amid US-Iran uncertainty, ahead of US data

GBP/USD keeps its range below 1.3450 in the European session on Tuesday. Uncertainty surrounding US-Iran talks drives traders toward a safe-haven currency such as the US Dollar, while undermining the risk-sensitive British Pound. All eyes remain on the US JOLTS data and Mideast headlines.

EUR/USD flatlines above 1.1500, awaits US jobs data

EUR/USD holds steady around 1.1505 in European trading hours on Wednesday. Markets remain cautious ahead of a slew of US jobs data, starting with the JOLTS Job Openings Survey later today. However, the downside appears capped by hot Eurozone inflation in July, bolstering the case for a European Central Bank rate hike at the next meeting.

Gold consolidates above $4,050 amid Fed hike bets and Iran uncertainty

Gold seesaws between tepid gains and minor losses during the Asian session as traders seem hesitant and opt to wait for further developments surrounding the Middle East crisis. The US Dollar struggles to build on the previous day's solid bounce from the lowest level since Mid-June and acts as a tailwind for the bullion. However, the uncertainty over US-Iran peace talks helps limit the downside for the buck.

Ripple and Stellar steady as derivatives data points to easing downside pressure

Ripple and Stellar show mixed price action, with XRP holding above the key $1 support zone while XLM faces rejection at $0.173. Meanwhile, improving derivatives metrics alongside fading bearish momentum suggest that the downside pressure may be easing for both altcoins. Derivatives data shows mild bullish sentiment among traders.

US JOLTs report in focus

In the US, the June JOLTs report will be in the spotlight. Job openings have increased modestly this year, which has historically predicted rising wage cost pressures ahead. June trade balance data will also be released in the afternoon and the preliminary reading pointed towards a stable trade deficit from May. The Fed's Schmid (non-voter, hawk) will be on the wires overnight.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.