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US Dollar Index Price Analysis: Picks up bids above 92.50 support confluence

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  • DXY remains firmer, keeps the previous day’s bounce off the key support.
  • Receding bearish bias of MACD keeps buyers hopeful.
  • Ascending trend line from July 30 joins 100, 200-SMA to challenge the bears.

US Dollar Index (DXY) holds onto the previous day’s recovery moves around 92.65 during early Tuesday. In doing so, the greenback gauge justifies its bounce off a convergence of the key SMAs as well as the short-term rising trend line.

Given the easing bearish bias of the MACD signals, the latest rebound is likely heading towards a horizontal area comprising multiple levels marked since July 28, near 92.75.

However, any further upside will be challenged by a 17-day-old horizontal area surrounding 93.00, a break of which could propel the quote towards the latest top, also the highest since April, near 93.20.

Meanwhile, a sustained trading below the 92.50 crucial support will not hesitate to challenge the 92.00 threshold.

It’s worth noting that the late July levels close to 92.20 and 91.78 act as extra filters for the pair’s near-term moves.

DXY: Four-hour chart

US Dollar Index Price Analysis: Picks up bids above 92.50 support confluence

Trend: Further recovery expected

Additional important levels

Overview
Today last price 92.65
Today Daily Change 0.03
Today Daily Change % 0.03%
Today daily open 92.62
Trends
Daily SMA20 92.57
Daily SMA50 92.13
Daily SMA100 91.56
Daily SMA200 91.3
Levels
Previous Daily High 92.66
Previous Daily Low 92.48
Previous Weekly High 93.19
Previous Weekly Low 92.47
Previous Monthly High 93.19
Previous Monthly Low 91.78
Daily Fibonacci 38.2% 92.59
Daily Fibonacci 61.8% 92.55
Daily Pivot Point S1 92.51
Daily Pivot Point S2 92.41
Daily Pivot Point S3 92.33
Daily Pivot Point R1 92.69
Daily Pivot Point R2 92.77
Daily Pivot Point R3 92.88

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