US Dollar Index Price Analysis: Rebound seen struggling around 94.00

DXY’s recovery stays in place and approaches the 93.80 zone.
The resistance line near 93.80 emerges as a minor hurdle.

Pablo Piovano FXStreet

After bottoming out in the 93.00 neighbourhood earlier in the week, DXY regained some buying interest and now tests the upper end of the range near 93.80.

The continuation of the corrective upside is expected to meet the next hurdle in the 93.80 region, where sits the 6-month resistance line ahead of a Fibo level at 94.20. Further north comes in the September’s top at 94.74 (September 25).

While below the 200-day SMA, today at 96.86, the negative view on the dollar is expected to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.7
Today Daily Change	39
Today Daily Change %	0.30
Today daily open	93.42

Trends
Daily SMA20	93.69
Daily SMA50	93.28
Daily SMA100	94.75
Daily SMA200	96.89

Levels
Previous Daily High	93.66
Previous Daily Low	93.25
Previous Weekly High	93.9
Previous Weekly Low	93.01
Previous Monthly High	94.74
Previous Monthly Low	91.74
Daily Fibonacci 38.2%	93.41
Daily Fibonacci 61.8%	93.5
Daily Pivot Point S1	93.23
Daily Pivot Point S2	93.03
Daily Pivot Point S3	92.81
Daily Pivot Point R1	93.64
Daily Pivot Point R2	93.86
Daily Pivot Point R3	94.06

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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