US Dollar Index Price Analysis: Recovery targets 94.00 and beyond

DXY is extending the rebound from recent lows in the mid-92.00s.
The area above the 94.00 barrier emerges as the next hurdle.

Pablo Piovano FXStreet

DXY’s bounce of +2-year lows near 92.50 (Friday) has already reclaimed levels well above 93.00 the figure at the beginning of the week.

In fact, further north comes in the 94.00 hurdle ahead of the Fibo level (of the 2017-2018 drop) at 94.20, where the recovery is expected to struggle.

The ongoing rebound is seen as corrective only and the negative outlook on the dollar is forecasted to remain unchanged while below the 200-day SMA, today at 98.00.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.68
Today Daily Change	38
Today Daily Change %	0.25
Today daily open	93.45

Trends
Daily SMA20	95.35
Daily SMA50	96.58
Daily SMA100	98.28
Daily SMA200	98.04

Levels
Previous Daily High	93.54
Previous Daily Low	92.55
Previous Weekly High	94.37
Previous Weekly Low	92.55
Previous Monthly High	97.64
Previous Monthly Low	92.55
Daily Fibonacci 38.2%	93.16
Daily Fibonacci 61.8%	92.92
Daily Pivot Point S1	92.82
Daily Pivot Point S2	92.18
Daily Pivot Point S3	91.82
Daily Pivot Point R1	93.81
Daily Pivot Point R2	94.17
Daily Pivot Point R3	94.8

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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