- DXY falters once again around the 99.00 region on Tuesday.
- More gains are likely on a close above 99.00.
The US Dollar Index (DXY) trades within a tight range near the 99.00 zone so far on Tuesday’s reversal.
DXY manages well to further extend the bounce away from decent containment in the 97.70 area (March 30-31), while the ongoing bounce continues to target the 99.00 level and beyond in the near term. Above this level 2022 highs around 99.40 are seen.
The current bullish stance on the index remains supported by the 6-month line near 96.20, while the long-term outlook for the dollar is seen as constructive above the 200-day SMA at 94.94.
DXY daily chart
Technical levels
Dollar Index Spot
| Panorama | |
|---|---|
| Last Price Today | 98.95 |
| Today’s Daily Change | -0.04 |
| Today’s Daily Change % | -0.04 |
| Today’s Daily Opening | 98.99 |
| Trends | |
|---|---|
| 20 Daily SMA | 98.6 |
| 50 Daily SMA | 97.32 |
| 100 Daily SMA | 96.67 |
| 200 Daily SMA | 94.93 |
| levels | |
|---|---|
| Previous Daily High | 99.09 |
| Previous Daily Minimum | 98.52 |
| Previous Maximum Weekly | 99.37 |
| Previous Weekly Minimum | 97.68 |
| Monthly Prior Maximum | 99.41 |
| Previous Monthly Minimum | 96.63 |
| Daily Fibonacci 38.2% | 98.87 |
| Daily Fibonacci 61.8% | 98.74 |
| Daily Pivot Point S1 | 98.64 |
| Daily Pivot Point S2 | 98.3 |
| Daily Pivot Point S3 | 98.08 |
| Daily Pivot Point R1 | 99.21 |
| Daily Pivot Point R2 | 99.43 |
| Daily Pivot Point R3 | 99.78 |
Source: Fx Street
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