US Dollar Index Price Analysis: Cautious ahead of the FOMC

DXY extends the gradual upside although still below 92.00.
The next target of note aligns at the YTD peaks around 92.50.

Pablo Piovano FXStreet

DXY's recovery still remains unable to assault and surpass the key hurdle at the 92.00 neighbourhood.

Extra gains in the dollar stay on the cards, although the FOMC event due later on Wednesday is expected to be key for bulls’ aspirations. If the upside impulse gathers extra steam, then DXY is expected to re-focus on the so far yearly tops in the mid-92.00s ahead of the critical 200-day SMA, today at 92.73.

A break above the latter should shift the outlook to constructive (from bearish) and allow for further gains in the short-term horizon.

DXY daily chart

Dollar Index Spot

Overview
Today last price	91.96
Today Daily Change	16
Today Daily Change %	0.09
Today daily open	91.88

Trends
Daily SMA20	91.12
Daily SMA50	90.75
Daily SMA100	91.14
Daily SMA200	92.75

Levels
Previous Daily High	92.03
Previous Daily Low	91.68
Previous Weekly High	92.5
Previous Weekly Low	91.36
Previous Monthly High	91.6
Previous Monthly Low	89.68
Daily Fibonacci 38.2%	91.89
Daily Fibonacci 61.8%	91.81
Daily Pivot Point S1	91.69
Daily Pivot Point S2	91.51
Daily Pivot Point S3	91.34
Daily Pivot Point R1	92.04
Daily Pivot Point R2	92.21
Daily Pivot Point R3	92.4

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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