US Dollar Index Price Analysis: Further consolidation looks likely

DXY’s upside remains capped around the 97.90 zone.
On the downside, there is strong support near 95.70.

Pablo Piovano FXStreet

DXY continues to wobble around the 97.00 mark and remains well immersed into the consolidative range between 95.70 and 97.90.

Dollar-bulls need to surpass the 97.90 area – where converge a Fibo level and recent tops – to allow for a potential visit to the critical 200-day SMA at 98.32.

The lower end of the range coincides with June’s lows and a breach of this level on a convincing fashion is expected to lead a test of 2020 lows at 94.65 (March 9).

DXY daily chart

EUR/JPY

Overview
Today last price	120.69
Today Daily Change	19
Today Daily Change %	-0.12
Today daily open	120.83

Trends
Daily SMA20	120.99
Daily SMA50	118.89
Daily SMA100	118.81
Daily SMA200	119.67

Levels
Previous Daily High	121.44
Previous Daily Low	120.75
Previous Weekly High	121.1
Previous Weekly Low	119.32
Previous Monthly High	124.43
Previous Monthly Low	119.32
Daily Fibonacci 38.2%	121.02
Daily Fibonacci 61.8%	121.18
Daily Pivot Point S1	120.57
Daily Pivot Point S2	120.32
Daily Pivot Point S3	119.88
Daily Pivot Point R1	121.26
Daily Pivot Point R2	121.7
Daily Pivot Point R3	121.95

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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