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- US Dollar Index Price Analysis: Extra gains seen above 96.50
US Dollar Index Price Analysis: Extra gains seen above 96.50
- DXY gathers extra steam and clinches tops around 96.30.
- The YTD peak at 96.46 emerges as the next key target.
DXY extends Monday’s upbeat tone and advances to multi-day tops in the vicinity of the 96.30 level on Tuesday.
The intense upside in the dollar has recently surpassed the 4-month line, today near 95.40, allowing for the continuation of the rebound in the short-term horizon. That said, the door now remains open to a potential assault of the so far 2022 top at 96.46 (January 4). The surpass of this level should then put the 2021 top at 96.93 (November 24) back on the radar.
Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.26.
DXY daily chart
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