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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

 

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