US Dollar Index Price Analysis: Recovery targets 99.00 and above

DXY finally sees some light at the end of the tunnel.
Next on the upside comes the 99.00 yardstick.

Pablo Piovano FXStreet

DXY regains the 98.00 mark and above following the earlier drop to the 97.80 region at the end of the week.

The continuation of the bid tone in the index carries the potential to extend to the next target of note at the 99.00 neighbourhood ahead of the weekly high at 99.29 (March 14) and the 2022 peak at 99.41 (March 7).

The current bullish stance in the index remains supported by the 6-month line, today near 95.90, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.51.

DXY daily chart

Dollar Index Spot

Overview
Today last price	98.44
Today Daily Change	62
Today Daily Change %	0.43
Today daily open	98.02

Trends
Daily SMA20	97.72
Daily SMA50	96.59
Daily SMA100	96.18
Daily SMA200	94.51

Levels
Previous Daily High	98.49
Previous Daily Low	97.73
Previous Weekly High	99.41
Previous Weekly Low	97.72
Previous Monthly High	97.74
Previous Monthly Low	95.14
Daily Fibonacci 38.2%	98.02
Daily Fibonacci 61.8%	98.2
Daily Pivot Point S1	97.66
Daily Pivot Point S2	97.31
Daily Pivot Point S3	96.9
Daily Pivot Point R1	98.43
Daily Pivot Point R2	98.85
Daily Pivot Point R3	99.2

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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