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US Dollar Index Price Analysis: The upside bias stays firm and targets 98.54

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

The upside momentum in DXY remains well and sound for yet another session and it has lifted the dollar to new yearly highs vs. its rivals above the 98.00 mark.

Immediately above emerges the next target of relevance at 98.54, or November’s peak ahead of 98.93 (high August 1st 2019).

In the broader picture, the outlook on the buck is seen constructive while above the 200-day SMA, today at 97.71.

DXY daily chart

 

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