US Dollar Index Price Analysis: Recovery seen struggling near 90.50

DXY fails to gather serious traction above 90.00.
Recent tops near 90.50 emerge as an interim hurdle.

Pablo Piovano FXStreet

DXY looks to move further north of the 90.00 yardstick on a more sustainable fashion.

If bulls manage to push the index further, then the recovery is expected to meet an interim barrier at last week’s peaks in the 90.40/45 band (May 28) ahead of the 91.00 neighbourhood.

Failure to do so, the dollar is seen resuming the downtrend with the immediate contention around the May’s low at 89.50 (May 25). Further south comes in the YTD low at 89.20 (January 6).

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.63 the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.06
Today Daily Change	25
Today Daily Change %	0.17
Today daily open	89.91

Trends
Daily SMA20	90.14
Daily SMA50	91.15
Daily SMA100	91.06
Daily SMA200	91.64

Levels
Previous Daily High	90.25
Previous Daily Low	89.86
Previous Weekly High	90.44
Previous Weekly Low	89.54
Previous Monthly High	91.44
Previous Monthly Low	89.54
Daily Fibonacci 38.2%	90.01
Daily Fibonacci 61.8%	90.1
Daily Pivot Point S1	89.76
Daily Pivot Point S2	89.62
Daily Pivot Point S3	89.38
Daily Pivot Point R1	90.15
Daily Pivot Point R2	90.39
Daily Pivot Point R3	90.54

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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