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US Dollar Index Price Analysis: Further gains now target the mid-98.00s

  • The rally in DXY prints fresh yearly highs in the 98.00 neighbourhood.
  • Immediately to the upside aligns 98.54, November’s high.

The upside momentum in the dollar remains well and sound for yet another session and is now lifting DXY to new YTD peaks beyond 98.00 the figure.

Above this area, the index should target the November’s peak in the mid-98.00s.

In the broader picture, the outlook on the buck is seen constructive while above t he 200-day SMA, today at 97.72.

DXY daily chart

 

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