US Dollar Index Price Analysis: Next on the upside comes the 2021 high

DXY reverses the recent weakness and retakes the 94.20 area.
Further upside is expected to re-visit the YTD peak at 94.56.

Pablo Piovano FXStreet

DXY so far posts gains for the first time after three consecutive daily pullbacks, including new weekly lows around 93.75 (October 14).

The corrective downside appears so far contained near 93.70. If the incipient recovery gathers traction, then there are no significant hurdles until the 2021 high at 94.56 recorded on October 12 ahead of the round level at the 95.00 barrier.

Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 91.80.

DXY daily chart

Dollar Index Spot

Overview
Today last price	94.15
Today Daily Change	26
Today Daily Change %	0.20
Today daily open	93.96

Trends
Daily SMA20	93.87
Daily SMA50	93.22
Daily SMA100	92.51
Daily SMA200	91.79

Levels
Previous Daily High	94.07
Previous Daily Low	93.85
Previous Weekly High	94.56
Previous Weekly Low	93.76
Previous Monthly High	94.51
Previous Monthly Low	91.95
Daily Fibonacci 38.2%	93.93
Daily Fibonacci 61.8%	93.98
Daily Pivot Point S1	93.85
Daily Pivot Point S2	93.74
Daily Pivot Point S3	93.63
Daily Pivot Point R1	94.07
Daily Pivot Point R2	94.18
Daily Pivot Point R3	94.29

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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