US Dollar Index Price Analysis: Above 97.70 targets 97.87
- The index is finally flirting with the 200-day SMA near 97.70.
- Above this level the outlook should shift to constructive.
The index is extending the positive momentum sparked at the end of last week and clinches fresh 2020 highs around 97.70, where sits the 200-day SMA.
Immediately above emerges the Fibo retracement of the 2017-2018 drop at 97.87.
While above the 97.70 area, the constructive outlook on the greenback should remain unchanged.
DXY daily chart