US Dollar Index Price Analysis: The 6-month resistance line caps the upside

DXY fades Monday’s uptick and recedes below the 93.00 level.
The 93.30 zone offers interim resistance in the near-term.

Pablo Piovano FXStreet

DXY resumes the downside following Monday’s positive price action and comes under renewed selling pressure after a failed sustainable move beyond 93.00.

In the meantime, it seems occasional bullish attempts remain capped by the 93.30 region, where converge the 55-day SMA and the 6-month resistance line. A surpass of this area should open the door to a visit to last week’s tops around 93.90 (October 15).

While below the 200-day SMA, today at 96.68, the negative view on the dollar is expected to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	92.94
Today Daily Change	26
Today Daily Change %	-0.14
Today daily open	93.07

Trends
Daily SMA20	93.41
Daily SMA50	93.27
Daily SMA100	94.41
Daily SMA200	96.72

Levels
Previous Daily High	93.11
Previous Daily Low	92.79
Previous Weekly High	93.77
Previous Weekly Low	92.47
Previous Monthly High	94.74
Previous Monthly Low	91.74
Daily Fibonacci 38.2%	92.99
Daily Fibonacci 61.8%	92.91
Daily Pivot Point S1	92.87
Daily Pivot Point S2	92.66
Daily Pivot Point S3	92.54
Daily Pivot Point R1	93.19
Daily Pivot Point R2	93.32
Daily Pivot Point R3	93.52

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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