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- US Dollar Index Price Analysis: Extra gains in the pipeline
US Dollar Index Price Analysis: Extra gains in the pipeline
- DXY records new cycle tops near 97.40 on Friday.
- Next on the upside is seen the June 2020 high at 97.80.
DXY pushes higher and clinches fresh highs in levels last seen in June 2020 in the 97.40/45 band on Friday.
The intense upside in the dollar quickly left behind the 97.00 barrier and remains well poised to extend the leg higher in the short-term horizon. That said, the door now remains open to a potential move to the June 2020 peak at 97.80 (June 30) ahead of the round level at 98.00.
In the short-term horizon, the upside pressure remains intact while above the 4-month line near 95.50. Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.35.
DXY daily chart
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