US Dollar Index Price Analysis: Further upside expected above 92.60

DXY cliches fresh 2021 highs around 92.60 on Wednesday.
Extra gains remain on the cards on a surpass of 92.60.

Pablo Piovano FXStreet

The dollar picks up further traction and lifts DXY to new yearly peaks around 92.60, area coincident with the critical 200-day SMA.

A convincing break above the latter should allow for the continuation of the uptrend and a shift to a more constructive stance, at least in the near/medium-term.

Further north of this area there is a minor hurdle at the 93.00 yardstick ahead of the November 2020 highs in the 94.25/30 band.

DXY daily chart

Dollar Index Spot

Overview
Today last price	92.44
Today Daily Change	26
Today Daily Change %	0.10
Today daily open	92.35

Trends
Daily SMA20	91.49
Daily SMA50	90.94
Daily SMA100	91.04
Daily SMA200	92.63

Levels
Previous Daily High	92.4
Previous Daily Low	91.76
Previous Weekly High	92.17
Previous Weekly Low	91.3
Previous Monthly High	91.6
Previous Monthly Low	89.68
Daily Fibonacci 38.2%	92.15
Daily Fibonacci 61.8%	92
Daily Pivot Point S1	91.94
Daily Pivot Point S2	91.53
Daily Pivot Point S3	91.3
Daily Pivot Point R1	92.58
Daily Pivot Point R2	92.81
Daily Pivot Point R3	93.22

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 clings to daily gains near 1.3350

GBP/USD holds just in positive territory around 1.3350 on Friday as the Greenback keeps a vacillating price action. With Fed rate hike expectations easing and US markets closed for the Independence Day holiday, Cable remains on track to post solid weekly gains.

EUR/USD remains sidelined around 1.1440

EUR/USD holds on to its recent gains and consolidates around 1.1440 at the end of the week as the US Dollar lacks clear direction. In the meantime, trading conditions remain subdued, with volatility constrained by the closure of US markets for the Independence Day holiday.

Gold flirts with two-week highs, targets $4,200

Gold extends its recovery for a third straight day, advancing toward the $4,200 mark per troy ounce on Friday. The precious metal looks set to snap a four-week losing streak as softer-than-expected June US NFP data prompt investors to scale back expectations of further Fed tightening.

Crypto Today: Bitcoin, Ethereum, XRP advance amid renewed capital inflows

Bitcoin maintains its upward momentum, holding above the $61,000 mark at the time of writing on Friday. Major altcoins such as Ethereum and Ripple are also posting gains, signaling a modest uptick in market sentiment and renewed risk appetite among investors.

The Iran war failed to trigger a recession. Can the US economy keep defying expectations?

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.