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US Dollar Index Price Analysis: Looks firmer and now targets 98.00 and beyond

  • DXY has left behind the 200-day SMA and keeps pushing higher.
  • The outlook on the dollar has now shifted to constructive.

DXY is now testing the key 97.90 region, where coincide the 100-day SMA and a Fibo retracement of the 2017-2018 decline.

The index has managed to surpass the 200-day SMA and is now expected to prolong the upside to the 98.00 neighbourhood.

Further north emerges November’s high at 98.54.

DXY daily chart

 

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