US Dollar Index Price Analysis: Recovery targets the 97.90 area

  • DXY’s rebound looks to gather serious traction above 97.00.
  • Next on the upside emerges the Fibo level and recent tops near 97.90.

DXY has managed to regain some composure following recent weekly lows in the 96.40 zone (June 23).

Bulls now appear in control and could lift the index to the area of 97.90, where coincide monthly peaks and a Fibo retracement (of the 2017-2018) drop.

A more sustainable bullish attempt needs to clear the 200-day SMA, today at 98.37, in order to target the critical triple-digit barrier.

DXY daily chart

Posted in FX