US Dollar Index Price Analysis: Interim resistance emerges at 90.16

DXY manages to reclaim recent ground lost and approaches 90.00.
Further recovery targets the minor hurdle at the 21-day SMA at 90.16.

Pablo Piovano FXStreet

After bottoming out in fresh lows around 89.20 on Wednesday, the dollar managed to regain some buying attention and is now trading at shouting distance from the key 90.00 mark.

Despite the ongoing rebound, the prospect for the greenback remains negative, with further losses now seen challenging the 89.00 support ahead of the March 2018 low at 88.94.

If the bullish attempt picks up pace, then there is a minor resistance at the 21-day SMA today at 90.16. Furthermore, the downside pressure is expected to mitigate somewhat on a breakout of the weekly high in the 91.00 region (December 21).

In the longer run, as long as DXY trades below the 200-day SMA, today at 94.80, the negative view is forecast to prevail.

DXY daily chart

Dollar Index Spot

Overview
Today last price	89.86
Today Daily Change	45
Today Daily Change %	0.50
Today daily open	89.41

Trends
Daily SMA20	90.16
Daily SMA50	91.45
Daily SMA100	92.37
Daily SMA200	94.86

Levels
Previous Daily High	89.8
Previous Daily Low	89.21
Previous Weekly High	90.38
Previous Weekly Low	89.52
Previous Monthly High	92.02
Previous Monthly Low	89.52
Daily Fibonacci 38.2%	89.43
Daily Fibonacci 61.8%	89.57
Daily Pivot Point S1	89.15
Daily Pivot Point S2	88.88
Daily Pivot Point S3	88.56
Daily Pivot Point R1	89.74
Daily Pivot Point R2	90.06
Daily Pivot Point R3	90.33

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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