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- US Dollar Index Price Analysis: Further gains likely above 95.20
US Dollar Index Price Analysis: Further gains likely above 95.20
- DXY looks to add to Friday’s gains above the 95.00 yardstick.
- The 55-day SMA at 95.73 emerges as the next up barrier.
The index struggles for direction in the low-95.00s and looks to extend the recent uptick at the beginning of the week.
If the recovery gathers serious traction, then DXY should leave behind the 4m resistance line near 95.20. Above this area, extra gains are likely with the immediate target at the 55-day SMA at 95.73. Further up, another visit to the 2022 high at 96.46 (January 4) should start shaping up.
Looking at the broader picture, the longer-term positive stance remains unchanged above the 200-day SMA, today at 93.14.
DXY daily chart
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