US Dollar Index Price Analysis: Bull run stalled around 98.20
- The rally in DXY prints meets resistance near 98.20.
- Further up emerges the November’s 2019 high at 98.54.
The upside momentum in DXY looks somewhat exhausted after printing fresh 2020 highs near 98.20 on Wednesday. Despite the tepid correction lower, the index manages well to keep business above the 98.00 mark.
If bulls manage to clear the 98.20 region, then the next target of relevance should align at November’s 2019 high at 98.54 ahead of 98.93 (high August 1st 2019).
Looking the broader picture, the outlook on the buck is seen constructive while above the 200-day SMA, today at 97.71.
DXY daily chart