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- US Dollar Index Price Analysis: Strong recovery now targets the 2022 peak
US Dollar Index Price Analysis: Strong recovery now targets the 2022 peak
- DXY posts strong gains and reclaims the area above 97.00.
- The next hurdle of note comes at the YTD top at 97.44.
DXY rallies and regains the key barrier at 97.00 the figure on the back of the Russia-Ukraine military conflict.
The continuation of the upside is expected to challenge the 2022 high past 97.40 recorded on January 28. If cleared, the next hurdle is seen at 97.80 (June 30 2020 high).
The short-term constructive stance remains supported by the 5-month line, today near 95.50, while the outlook for the dollar is seen as positive above the 200-day SMA at 93.86 in the longer run.
DXY daily chart
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