US Dollar Index Price Analysis: Monthly tops around 94.00 caps the upside

DXY struggles to extend gains further north of 93.70 on Tuesday.
The 94.00 area keeps limiting occasional bullish attempts.

Pablo Piovano FXStreet

DXY met some resistance in the 93.70 region so far this week, reversing gains seen in the last couple of sessions.

In case sellers return to the market, immediate contention is expected to emerge at YTD lows in the mid-92.00s ahead of the Fibo level (of the 2017-2018 drop) at 91.92, If this level is cleared, the the May 2018 low at 91.80 should turn up in the radar.

The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 97.87.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.26
Today Daily Change	48
Today Daily Change %	-0.38
Today daily open	93.62

Trends
Daily SMA20	94.31
Daily SMA50	95.92
Daily SMA100	97.81
Daily SMA200	97.91

Levels
Previous Daily High	93.7
Previous Daily Low	93.3
Previous Weekly High	94
Previous Weekly Low	92.5
Previous Monthly High	97.64
Previous Monthly Low	92.55
Daily Fibonacci 38.2%	93.55
Daily Fibonacci 61.8%	93.45
Daily Pivot Point S1	93.38
Daily Pivot Point S2	93.13
Daily Pivot Point S3	92.97
Daily Pivot Point R1	93.78
Daily Pivot Point R2	93.95
Daily Pivot Point R3	94.19

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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