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- US Dollar Index Price Analysis: The bullish outlook remains unchanged
US Dollar Index Price Analysis: The bullish outlook remains unchanged
- DXY clinches new cycle tops just above the 104.00 mark.
- Next on the upside emerges the 105.32 level.
DXY comes under some selling pressure after hitting fresh 19-year peaks past 104.00 the figure on Friday.
The underlying bullish view for the dollar, remains well in place for the time being. That said, extra gains above the 104.00 region should prompt the index to meet the next target at 105.63 (December 11 2002 high) ahead of the December 2002 peak at 107.31.
The current bullish stance in the index remains supported by the 8-month line in the 96.85/90 band, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 95.98.
DXY daily chart
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