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- US Dollar Index Price Analysis: The surpass of the YTD high exposes 109.77
US Dollar Index Price Analysis: The surpass of the YTD high exposes 109.77
- DXY remains bid and flirts with the 2022 top near 109.30.
- Further north of comes the September 2002 high around 109.80.
DXY keeps the rally well and sound and trades at shouting distance from the YTD highs near 109.30 on Tuesday.
The continuation of the upside momentum looks increasingly likely in the very near term. That said, beyond the 2022 high at 109.29 (July 14) the index could challenge the September 2002 peak at 109.77 prior to the round level at 110.00.
In the meantime, while above the 6-month support line near 105.10, the index is expected to keep the short-term positive stance.
Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.49.
DXY daily chart
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