US Dollar Index Price Analysis: Recovery faces the next hurdle around 94.70

DXY extends the rebound beyond 94.60 on Friday.
Next on the upside emerges the resistance line near 94.70.

Pablo Piovano FXStreet

The positive note in the dollar stays unabated at the end of the week and lift DXY to fresh 2-month peaks above 94.60.

The continuation of the bullish impetus is forecasted to meet the 6-month resistance line in the 94.70/75 band ahead of other minor hurdles at the 100-day SMA (95.54) and a Fibo level at 96.03.

In spite of the current bounce, the bearish view on DXY is seen unchanged while below the 200-day SMA, today at 97.10.

DXY daily chart

Dollar Index Spot

Overview
Today last price	94.53
Today Daily Change	43
Today Daily Change %	0.20
Today daily open	94.34

Trends
Daily SMA20	93.14
Daily SMA50	93.41
Daily SMA100	95.6
Daily SMA200	97.13

Levels
Previous Daily High	94.59
Previous Daily Low	94.2
Previous Weekly High	93.61
Previous Weekly Low	92.77
Previous Monthly High	94
Previous Monthly Low	92
Daily Fibonacci 38.2%	94.35
Daily Fibonacci 61.8%	94.44
Daily Pivot Point S1	94.16
Daily Pivot Point S2	93.98
Daily Pivot Point S3	93.77
Daily Pivot Point R1	94.56
Daily Pivot Point R2	94.77
Daily Pivot Point R3	94.95

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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