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

DXY reverses the recent weakness and breaks above 94.00.
Further north comes the 2021 peaks beyond 94.60.

Pablo Piovano FXStreet

DXY manages to regain some buying pressure and advances past the 94.00 yardstick on Wednesday.

If the upside impulse gathers extra steam, then there are no hurdles of note until the 2021 high at 94.62 recorded on November 5. A move above this level is expected to target the September 2020 high at 94.74 ahead of the round level at 95.00.

Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 92.09.

DXY daily chart

Dollar Index Spot

Overview
Today last price	94.3
Today Daily Change	37
Today Daily Change %	0.35
Today daily open	93.97

Trends
Daily SMA20	93.91
Daily SMA50	93.54
Daily SMA100	93.06
Daily SMA200	92.08

Levels
Previous Daily High	94.16
Previous Daily Low	93.88
Previous Weekly High	94.62
Previous Weekly Low	93.82
Previous Monthly High	94.56
Previous Monthly Low	93.28
Daily Fibonacci 38.2%	93.98
Daily Fibonacci 61.8%	94.05
Daily Pivot Point S1	93.85
Daily Pivot Point S2	93.72
Daily Pivot Point S3	93.57
Daily Pivot Point R1	94.13
Daily Pivot Point R2	94.28
Daily Pivot Point R3	94.41

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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