US Dollar Index Price Analysis: Upside remains capped by 91.60

DXY regains some attention following Tuesday’s pullback.
Bullish attempts stay limited around 2021 highs near 91.60.

Pablo Piovano FXStreet

DXY failed to move further north of the 91.00 mark on a more serious note on Wednesday, retreating to the negative territory after clinching multi-week peaks in the 91.35/40 band.

A surpass of the latter, ideally in the near-term, carries the potential to spark a visit to the 2021 tops in the 91.60 zone (February 5), where the index is expected to meet a tough barrier.

In spite of the strong rebound, the current spike in DXY is deemed as corrective only, as the broader bearish view still weighs on the dollar. If the 91.60 region is surpassed, then the next focus of attention should shift to the Fibo level (of the 2020-2021 drop) at 92.46.

In the longer run, as long as DXY trades below the 200-day SMA (93.00), the negative stance is expected to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	91.03
Today Daily Change	41
Today Daily Change %	0.29
Today daily open	90.77

Trends
Daily SMA20	90.62
Daily SMA50	90.4
Daily SMA100	91.28
Daily SMA200	93.04

Levels
Previous Daily High	91.39
Previous Daily Low	90.72
Previous Weekly High	90.96
Previous Weekly Low	89.68
Previous Monthly High	91.6
Previous Monthly Low	89.68
Daily Fibonacci 38.2%	90.98
Daily Fibonacci 61.8%	91.14
Daily Pivot Point S1	90.53
Daily Pivot Point S2	90.29
Daily Pivot Point S3	89.86
Daily Pivot Point R1	91.2
Daily Pivot Point R2	91.63
Daily Pivot Point R3	91.87

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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