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- US Dollar Index Price Analysis: Another visit to the YTD high is not ruled out
US Dollar Index Price Analysis: Another visit to the YTD high is not ruled out
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DXY’s bull run falters just ahead of the 99.00 mark on Tuesday.
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Above 99.00 should come the weekly top at 99.29 (March 14).
DXY gives away part of the earlier spike to the boundaries of the 99.00 yardstick on Tuesday.
The continuation of the bid tone in the index carries the potential to extend to the next target of note at the 99.00 neighbourhood ahead of the weekly high at 99.29 (March 14). If cleared, the the dollar could attempt an assault to the 2022 peak at 99.41 (March 7).
The current bullish stance in the index remains supported by the 6-month line near 96.00, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.59.
DXY daily chart
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