US Dollar Index Price Analysis: Immediately to the upside comes 95.83

DXY reverses the initial pullback and returns to the 95.60 area.
Further gains likely above the 4-month line near 95.30.

Pablo Piovano FXStreet

DXY manages to bounce off daily lows in the 95.40/45 band on Thursday.

The intense upside in the dollar has recently surpassed the 4-month line, today near 95.30, and in doing so it has reinstated the short-term bullish bias. That said, the next target is seen at the weekly high at 95.83 (January 18) ahead of the YTD high at 96.46 recorded on January 4.

Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.19.

DXY daily chart

Dollar Index Spot

Overview
Today last price	95.64
Today Daily Change	25
Today Daily Change %	0.04
Today daily open	95.6

Trends
Daily SMA20	95.79
Daily SMA50	95.99
Daily SMA100	94.79
Daily SMA200	93.21

Levels
Previous Daily High	95.79
Previous Daily Low	95.49
Previous Weekly High	96.24
Previous Weekly Low	94.63
Previous Monthly High	96.92
Previous Monthly Low	95.57
Daily Fibonacci 38.2%	95.61
Daily Fibonacci 61.8%	95.68
Daily Pivot Point S1	95.47
Daily Pivot Point S2	95.33
Daily Pivot Point S3	95.17
Daily Pivot Point R1	95.76
Daily Pivot Point R2	95.93
Daily Pivot Point R3	96.06

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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