US Dollar Index Price Analysis: Side-lined… waiting for the Fed

DXY keeps the consolidative mood around the 90.50/60 area.
Next resistance comes in at 90.67, monthly peaks.

Pablo Piovano FXStreet

DXY extends the erratic performance in the upper end of the weekly range around the mid-90.00s.

Price action in the dollar stays muted ahead of the key FOMC gathering due later in the NA session.

Bullish attempts need to clear tops in the 90.65/70 zone to allow for the continuation of the uptrend in the short-term horizon. On the flip side, the loss of the 90.00 level should open the door to a re-test of the May’s low around 89.50.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.52 the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.54
Today Daily Change	13
Today Daily Change %	0.02
Today daily open	90.52

Trends
Daily SMA20	90.09
Daily SMA50	90.68
Daily SMA100	91.05
Daily SMA200	91.53

Levels
Previous Daily High	90.67
Previous Daily Low	90.35
Previous Weekly High	90.61
Previous Weekly Low	89.84
Previous Monthly High	91.44
Previous Monthly Low	89.54
Daily Fibonacci 38.2%	90.55
Daily Fibonacci 61.8%	90.47
Daily Pivot Point S1	90.35
Daily Pivot Point S2	90.19
Daily Pivot Point S3	90.03
Daily Pivot Point R1	90.68
Daily Pivot Point R2	90.84
Daily Pivot Point R3	91

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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