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.

Pablo Piovano FXStreet

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 price	90.83
Today Daily Change	32
Today Daily Change %	0.04
Today daily open	90.79

Trends
Daily SMA20	90.95
Daily SMA50	91.71
Daily SMA100	91.06
Daily SMA200	91.88

Levels
Previous Daily High	90.8
Previous Daily Low	90.16
Previous Weekly High	91.44
Previous Weekly Low	90.19
Previous Monthly High	93.33
Previous Monthly Low	90.42
Daily Fibonacci 38.2%	90.55
Daily Fibonacci 61.8%	90.4
Daily Pivot Point S1	90.36
Daily Pivot Point S2	89.94
Daily Pivot Point S3	89.72
Daily Pivot Point R1	91.01
Daily Pivot Point R2	91.22
Daily Pivot Point R3	91.65

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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