US Dollar Index Price Analysis: Solid support aligns in the 93.00 area

DXY manages to rebound from recent lows in the 93.00 zone.
A breach of this level should open the door to a move to 92.70.

Pablo Piovano FXStreet

After bottoming out in the 93.00 neighbourhood, DXY regains some composure and flirts with the 55-day SMA near 93.30 at the beginning of the week.

If the ongoing bullish move picks up extra pace, then the next interim hurdle comes in near 94.00, where is located the 6-moonth resistance line ahead of a Fibo level at 94.20.

While below the 200-day SMA, today at 96.92, the negative view on the dollar is expected to prevail.

DXY daily chart

Dollar Index Spot

Overview
Today last price	93.22
Today Daily Change	22
Today Daily Change %	0.23
Today daily open	93.01

Trends
Daily SMA20	93.65
Daily SMA50	93.27
Daily SMA100	94.93
Daily SMA200	96.94

Levels
Previous Daily High	93.61
Previous Daily Low	93.01
Previous Weekly High	93.9
Previous Weekly Low	93.01
Previous Monthly High	94.74
Previous Monthly Low	91.74
Daily Fibonacci 38.2%	93.24
Daily Fibonacci 61.8%	93.38
Daily Pivot Point S1	92.81
Daily Pivot Point S2	92.6
Daily Pivot Point S3	92.2
Daily Pivot Point R1	93.41
Daily Pivot Point R2	93.82
Daily Pivot Point R3	94.02

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.

EUR/USD holds firm near 1.1850 amid USD weakness

EUR/USD remains strongly bid around 1.1850 in European trading on Monday. The USD/JPY slide-led broad US Dollar weakness helps the pair build on Friday's recovery ahead of the Eurozone Sentix Investor Confidence data for February.

GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling may weaken amid a fresh government crisis in the United Kingdom.

Gold remains supported by China's buying and USD weakness as traders eye US data

Gold struggles to capitalize on its intraday move up and remains below the $5,100 mark heading into the European session amid mixed cues. Data released over the weekend showed that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Fed expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Cardano steadies as whale selling caps recovery

Cardano (ADA) steadies at $0.27 at the time of writing on Monday after slipping more than 5% in the previous week. On-chain data indicate a bearish trend, with certain whales offloading ADA. However, the technical outlook suggests bearish momentum is weakening, raising the possibility of a short-term relief rebound if buying interest picks up.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.