US Dollar Index Price Analysis: Extra rangebound likely near term

DXY fades Tuesday’s small uptick and returns to 92.50.
Further consolidation now seems on the table.

Pablo Piovano FXStreet

DXY extends the erratic performance so far on Wednesday, receding further from Monday’s peaks just below the 93.00 area.

In light of the recent price action, further consolidation stays well in the pipeline. That said, the immediate resistance is located at recent tops around 92.90, while the 92.30 region should hold the initial test on the downside.

In the meantime, and looking at the broader scenario, the constructive stance on the dollar is seen unchanged while bove the 200-day SMA, today at 91.39.

DXY daily chart

Dollar Index Spot

Overview
Today last price	92.47
Today Daily Change	24
Today Daily Change %	-0.21
Today daily open	92.66

Trends
Daily SMA20	92.74
Daily SMA50	92.64
Daily SMA100	91.74
Daily SMA200	91.38

Levels
Previous Daily High	92.68
Previous Daily Low	92.32
Previous Weekly High	92.86
Previous Weekly Low	92.1
Previous Monthly High	93.73
Previous Monthly Low	91.82
Daily Fibonacci 38.2%	92.54
Daily Fibonacci 61.8%	92.46
Daily Pivot Point S1	92.43
Daily Pivot Point S2	92.19
Daily Pivot Point S3	92.07
Daily Pivot Point R1	92.79
Daily Pivot Point R2	92.91
Daily Pivot Point R3	93.15

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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