US Dollar Index Price Analysis: Upside target remains at 91.00

DXY regains some composure and reverses the initial weakness.
Interim hurdle lines up at the 91.00 neighbourhood.

Pablo Piovano FXStreet

DXY met buyers in the 90.30 region earlier on Wednesday and now resumes the upside to the 90.50/55 band.

Despite the ongoing rebound, the prospect for the greenback remains tilted to the bearish side. That said, a re-visit of the 90.00 yardstick should not surprise anyone in the short-term horizon. Below this psychological level is located the 2021 lows around 89.20 ahead of the March 2018 low at 88.94.

Immediately to the upside emerges the next target at the recent yearly peaks in the 91.00 region. The 55-day SMA, today ay 91.04, reinforces this resistance. Above this region, the selling pressure is forecast to mitigate somewhat.

The ongoing rebound is seen as corrective only and in the longer run, as long as DXY trades below the 200-day SMA, today at 94.37, the negative view is expected to persist.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.53
Today Daily Change	28
Today Daily Change %	0.04
Today daily open	90.49

Trends
Daily SMA20	90.13
Daily SMA50	90.92
Daily SMA100	92.15
Daily SMA200	94.43

Levels
Previous Daily High	90.77
Previous Daily Low	90.4
Previous Weekly High	90.78
Previous Weekly Low	89.92
Previous Monthly High	92.02
Previous Monthly Low	89.52
Daily Fibonacci 38.2%	90.54
Daily Fibonacci 61.8%	90.63
Daily Pivot Point S1	90.34
Daily Pivot Point S2	90.19
Daily Pivot Point S3	89.97
Daily Pivot Point R1	90.7
Daily Pivot Point R2	90.92
Daily Pivot Point R3	91.07

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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