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.

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

 

 

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