US Dollar Index Price Analysis: Further upside faces the 2021 highs

DXY adds to Friday’s advance and retests the 93.50 area.
A move to 2021 high at 93.72 stays in the pipeline.

Pablo Piovano FXStreet

DXY continues to regain ground lost during last week and retests the 93.50 area on Monday’s session.

Immediate hurdle now emerges at recent peaks just past 93.50. A move above this level should favour another visit to the 2021 tops above 93.70 (August 20). Further north from here should come the round level at 94.00 ahead of November 2020 high at 94.30.

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 91.50.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.35
Today Daily Change	29
Today Daily Change %	0.08
Today daily open	93.28

Trends
Daily SMA20	92.75
Daily SMA50	92.74
Daily SMA100	91.92
Daily SMA200	91.49

Levels
Previous Daily High	93.42
Previous Daily Low	93.05
Previous Weekly High	93.53
Previous Weekly Low	92.98
Previous Monthly High	93.73
Previous Monthly Low	91.82
Daily Fibonacci 38.2%	93.28
Daily Fibonacci 61.8%	93.19
Daily Pivot Point S1	93.08
Daily Pivot Point S2	92.88
Daily Pivot Point S3	92.71
Daily Pivot Point R1	93.45
Daily Pivot Point R2	93.62
Daily Pivot Point R3	93.82

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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