US Dollar Index Price Analysis: Tough barrier now emerged around 96.00

DXY extends the recovery in the second half of the week.
The index faltered once again around the 96.00 region.

Pablo Piovano FXStreet

DXY now alternates gains with losses after failing to surpass the key barrier at 96.00 earlier in the session.

The inability of the index to garner convincing upside traction, ideally in the short term, could prompt sellers to return to the market. That scenario should force the dollar to initially retest the so far monthly low at 95.13 (February 4) ahead of the 2022 low at 94.62 (January 14).

In the near term, the 5-month line near 95.20 is expected to hold the downside for the time being. Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.59.

DXY daily chart

Dollar Index Spot

Overview
Today last price	95.79
Today Daily Change	41
Today Daily Change %	0.11
Today daily open	95.68

Trends
Daily SMA20	95.9
Daily SMA50	96
Daily SMA100	95.31
Daily SMA200	93.6

Levels
Previous Daily High	96
Previous Daily Low	95.17
Previous Weekly High	97.26
Previous Weekly Low	95.14
Previous Monthly High	97.44
Previous Monthly Low	94.63
Daily Fibonacci 38.2%	95.69
Daily Fibonacci 61.8%	95.49
Daily Pivot Point S1	95.24
Daily Pivot Point S2	94.79
Daily Pivot Point S3	94.41
Daily Pivot Point R1	96.07
Daily Pivot Point R2	96.45
Daily Pivot Point R3	96.89

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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