US Dollar Index Price Analysis: Rising bets for a move to 2021 highs

DXY advances further to new highs around 93.20.
Next on the upside comes in the YTD highs in the mid-93.00s.

Pablo Piovano FXStreet

The upside momentum in the dollar remains well and sound and lifts DXY to fresh multi-month peaks around 93.20.

In light of the recent price action, further gains remain well on the cards with the immediate target now emerging at the 2021 peaks in the 93.50 zone (March 31).

In the meantime, and looking at the broader scenario, the positive stance on the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.36.

The index, however, is navigating the boundaries of the overbought territory, which could spark some correction in the not-so-distant future.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.05
Today Daily Change	0.08
Today Daily Change %	0.09
Today daily open	92.97

Trends
Daily SMA20	92.35
Daily SMA50	91.2
Daily SMA100	91.45
Daily SMA200	91.37

Levels
Previous Daily High	93.17
Previous Daily Low	92.8
Previous Weekly High	92.83
Previous Weekly Low	92.08
Previous Monthly High	92.45
Previous Monthly Low	89.66
Daily Fibonacci 38.2%	93.03
Daily Fibonacci 61.8%	92.94
Daily Pivot Point S1	92.79
Daily Pivot Point S2	92.61
Daily Pivot Point S3	92.42
Daily Pivot Point R1	93.16
Daily Pivot Point R2	93.35
Daily Pivot Point R3	93.53

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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