US Dollar Index Price Analysis: A move to 91.00 is not ruled out

DXY resumes the upside following Tuesday’s negative close.
The continuation of the uptrend is expected to meet 91.00.

Pablo Piovano FXStreet

After bottoming out in fresh lows near 89.20 earlier in the new year, the dollar managed to regain moderate buying attention and extended the move to the vicinity of 90.70 earlier in the week.

If the bullish attempt becomes more sustainable, then there is the chance of a move to the weekly high in the 91.00 region (December 21). Above this level, the prevailing downside pressure is expected to mitigate somewhat.

In the longer run, as long as DXY trades below the 200-day SMA, today at 94.59, the negative view is forecast to prevail.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.3
Today Daily Change	40
Today Daily Change %	0.29
Today daily open	90.04

Trends
Daily SMA20	90.04
Daily SMA50	91.15
Daily SMA100	92.25
Daily SMA200	94.66

Levels
Previous Daily High	90.62
Previous Daily Low	90.03
Previous Weekly High	90.25
Previous Weekly Low	89.21
Previous Monthly High	92.02
Previous Monthly Low	89.52
Daily Fibonacci 38.2%	90.25
Daily Fibonacci 61.8%	90.39
Daily Pivot Point S1	89.84
Daily Pivot Point S2	89.64
Daily Pivot Point S3	89.25
Daily Pivot Point R1	90.43
Daily Pivot Point R2	90.82
Daily Pivot Point R3	91.02

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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