US Dollar Index Price Analysis: Recovery targets 92.85


  • DXY reverses the recent weakness and retakes 92.35/40.
  • The next hurdle comes in at the July tops beyond 92.80.

DXY regains upside traction and reverses two consecutive daily pullbacks at the beginning of the week.

The corrective decline appears to have met solid contention around the 92.00 neighbourhood so far. The continuation of the rebound is expected to target the July peaks around 92.85 (July 7) ahead of the round level at 93.00 the figure.

Further north comes in the so far 2021 highs near 93.50 recorded in late March.

In the meantime, and looking at the broader scenario, the positive outlook for the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.39.

DXY daily chart

Dollar Index Spot

Overview
Today last price 92.35
Today Daily Change 31
Today Daily Change % 0.27
Today daily open 92.1
 
Trends
Daily SMA20 91.94
Daily SMA50 90.93
Daily SMA100 91.3
Daily SMA200 91.4
 
Levels
Previous Daily High 92.54
Previous Daily Low 92.09
Previous Weekly High 92.85
Previous Weekly Low 92
Previous Monthly High 92.45
Previous Monthly Low 89.66
Daily Fibonacci 38.2% 92.26
Daily Fibonacci 61.8% 92.37
Daily Pivot Point S1 91.95
Daily Pivot Point S2 91.79
Daily Pivot Point S3 91.5
Daily Pivot Point R1 92.4
Daily Pivot Point R2 92.7
Daily Pivot Point R3 92.85

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD struggles around 1.17 in aftermath of German elections

EUR/USD is trading around 1.17, struggling to rise amid the close German elections. The safe-haven dollar dropped earlier as the Evergrande crisis eased. US Durable Goods Orders and a speech by the ECB's Lagarde are eyed.

EUR/USD News

GBP/USD rises to 1.37 as upbeat mood outweigh petrol crisis

GBP/USD is trading at around 1.37, benefiting from the upbeat market mood and last week's BOE hawkishness. Brexit-related shortages of petrol in the UK hurt sterling earlier. 

GBP/USD News

XAU/USD eyes $1767 critical supply zone

Gold is easing off the higher levels, as the risk-on market environment amid ebbing China Evergrande fears and US stimulus optimism dulls the safe-haven appeal of the bright metal.

Gold News

Huobi to stop servicing Chinese users as China vows strict crackdown on crypto

A few months after the cryptocurrency mining ban in China, the country issued another update last week, reiterating that digital assets are banned and crypto exchanges are prohibited.

Read more

US Durable Goods Orders August: Retail Sales have led the way

The US consumer belied predictions that a slowing economy would cut into Retail Sales in August. Instead of falling 0.8% as forecast, sales jumped 0.7%. Sales outside of the production crippled auto sector were even stronger.

Read more

Forex MAJORS

Cryptocurrencies

Signatures