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- US Dollar Index Price Analysis: Next on the upside comes 104.21
US Dollar Index Price Analysis: Next on the upside comes 104.21
- DXY adds to the weekly rebound above 103.00 on Friday.
- Further gains face an interim hurdle at the Fibo level at 104.21.
DXY keeps the march north unabated and extends the recover to the 103.70 zone at the end of the week.
Considering the ongoing price action, further gains now look probable. Against that, the next interim barrier comes at the Fibo level (of the 105.00-101.29 drop) at 104.21ahead of the 2022 peak at 105.00 recorded on May 13.
As long as the 3-month line around 101.30 holds the downside, the near-term outlook for the index should remain constructive.
Looking at the longer run, the outlook for the dollar is seen bullish while above the 200-day SMA at 97.24.
DXY daily chart
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