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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.

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 price92.06
Today Daily Change26
Today Daily Change %0.23
Today daily open91.85
 
Trends
Daily SMA2090.47
Daily SMA5090.65
Daily SMA10091.1
Daily SMA20091.51
 
Levels
Previous Daily High92.38
Previous Daily Low91.83
Previous Weekly High92.4
Previous Weekly Low90.35
Previous Monthly High91.44
Previous Monthly Low89.54
Daily Fibonacci 38.2%92.04
Daily Fibonacci 61.8%92.17
Daily Pivot Point S191.66
Daily Pivot Point S291.47
Daily Pivot Point S391.11
Daily Pivot Point R192.21
Daily Pivot Point R292.56
Daily Pivot Point R392.75

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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