US Dollar Index Price Analysis: Recovery seen struggling below 91.00

DXY advances further north of the 90.00 hurdle on Friday.
The next resistance of relevance comes in around 90.90.

Pablo Piovano FXStreet

DXY regains upside traction and extends the recent breakout of the key 90.00 yardstick at the end of the week.

The continuation of the recovery is likely in the short-term horizon and therefore the index is expected to meet the next resistance of significance at the weekly peak at 90.90 (May 13). The proximity of the 100-day SMA just above 91.00 reinforces this hurdle.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.69 the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.29
Today Daily Change	38
Today Daily Change %	0.31
Today daily open	90.01

Trends
Daily SMA20	90.39
Daily SMA50	91.33
Daily SMA100	91.08
Daily SMA200	91.71

Levels
Previous Daily High	90.18
Previous Daily Low	89.89
Previous Weekly High	90.43
Previous Weekly Low	89.65
Previous Monthly High	93.33
Previous Monthly Low	90.42
Daily Fibonacci 38.2%	90
Daily Fibonacci 61.8%	90.07
Daily Pivot Point S1	89.87
Daily Pivot Point S2	89.74
Daily Pivot Point S3	89.59
Daily Pivot Point R1	90.16
Daily Pivot Point R2	90.31
Daily Pivot Point R3	90.44

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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