US Dollar Index Price Analysis: The 98.00 region looms closer
- The bull run in DXY advances further north of the 200-day SMA.
- The dollar has regained the near-term positive outlook.
DXY keeps the positive mood at the beginning of the week and continues to target the 98.00 neighbourhood and beyond in the short-term horizon.
The 100-day SMA and a Fibo retracement of the 2017-2018 drop are offering some resistance in the 97.90 region, or yearly highs.
Above this area, the index should target the 98.00 mark ahead of November’s peaks in the mid-98.00s.
DXY daily chart