US Dollar Index Price Analysis: Keeps the positive stance and targets 92.50

DXY regains ground lost following Monday’s pullback.
Extra gains are seen above the 92.50 level.

Pablo Piovano FXStreet

Monday’s strong retracement dragged DXY back below 92.00, although buyers returned to the market on Tuesday.

In fact, the improved sentiment in the dollar seems far from abated so far and could now push the index to the next minor target at a Fibo level near 92.50. Further north, there are no relevant hurdles until the 2021 highs in the mid-93.00s recorded on March 31.

In the meantime, and looking at the broader scenario, a sustainable breakout of the 200-day SMA, today at 91.50, should shift the outlook for the buck to positive.

DXY daily chart

Dollar Index Spot

Overview
Today last price	92.06
Today Daily Change	26
Today Daily Change %	0.23
Today daily open	91.85

Trends
Daily SMA20	90.47
Daily SMA50	90.65
Daily SMA100	91.1
Daily SMA200	91.51

Levels
Previous Daily High	92.38
Previous Daily Low	91.83
Previous Weekly High	92.4
Previous Weekly Low	90.35
Previous Monthly High	91.44
Previous Monthly Low	89.54
Daily Fibonacci 38.2%	92.04
Daily Fibonacci 61.8%	92.17
Daily Pivot Point S1	91.66
Daily Pivot Point S2	91.47
Daily Pivot Point S3	91.11
Daily Pivot Point R1	92.21
Daily Pivot Point R2	92.56
Daily Pivot Point R3	92.75

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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