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US Dollar Index Price Analysis: Scope for a re-test of 91.00

  • The index rebounds sharply from the 90.00 zone.
  • Further gains now target the 91.00 neighbourhood.

DXY met unexpected upside traction on the back of recent US inflation figures and extends the bounce off recent lows in the vicinity of the 90.00 yardstick (Tuesday).

The continuation of the recovery is expected to meet the next hurdle of note at the 91.00 zone in the short-term horizon. This resistance area is also reinforced by the proximity of the 100-day SMA, today at 91.07.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.86, the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price90.83
Today Daily Change32
Today Daily Change %0.04
Today daily open90.79
 
Trends
Daily SMA2090.95
Daily SMA5091.71
Daily SMA10091.06
Daily SMA20091.88
 
Levels
Previous Daily High90.8
Previous Daily Low90.16
Previous Weekly High91.44
Previous Weekly Low90.19
Previous Monthly High93.33
Previous Monthly Low90.42
Daily Fibonacci 38.2%90.55
Daily Fibonacci 61.8%90.4
Daily Pivot Point S190.36
Daily Pivot Point S289.94
Daily Pivot Point S389.72
Daily Pivot Point R191.01
Daily Pivot Point R291.22
Daily Pivot Point R391.65

Author

Pablo Piovano

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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