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- US Dollar Index Price Analysis: The 111.00 level is just around the corner
US Dollar Index Price Analysis: The 111.00 level is just around the corner
- DXY advances further and flirts with the 111.00 region.
- The FOMC event will put the ongoing bull run to the test.
DXY extends the auspicious start of the week and prints new 20-year highs just below the 111.00 mark on Wednesday.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 106.70. That said, the surpass of the 2022 peak at 110.86 (September 21) should expose a quick move to the 111.00 barrier.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 101.87.
DXY daily chart
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