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US Dollar Index Price Analysis: Immediately to the upside comes 96.43

  • DXY regains the smile amidst renewed risk aversion.
  • The weekly high around 96.40 emerges as the next up barrier.

DXY reverses two consecutive daily pullbacks and looks to reclaim the area above the 96.00 barrier on Thursday.

If the recovery gathers steam, then the index is expected to challenge the weekly tops at 96.43 (February 14), which is considered the last defence before an assault to the YTD high near 97.50 (January 28).

In the meantime, further gains in DXY looks likely as long as the 5-month line near 95.30 holds the downside.

In the longer run, the outlook for the dollar is seen as positive above the 200-day SMA at 93.70.

DXY daily chart

Dollar Index Spot

Overview
Today last price95.84
Today Daily Change39
Today Daily Change %0.02
Today daily open95.82
 
Trends
Daily SMA2096.02
Daily SMA5095.99
Daily SMA10095.41
Daily SMA20093.71
 
Levels
Previous Daily High96.06
Previous Daily Low95.68
Previous Weekly High96.11
Previous Weekly Low95.17
Previous Monthly High97.44
Previous Monthly Low94.63
Daily Fibonacci 38.2%95.82
Daily Fibonacci 61.8%95.92
Daily Pivot Point S195.65
Daily Pivot Point S295.47
Daily Pivot Point S395.26
Daily Pivot Point R196.03
Daily Pivot Point R296.24
Daily Pivot Point R396.42

Author

Pablo Piovano

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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