US Dollar Index Price Analysis: Extends the upside above the 200-day SMA
- DXY adds to Monday’s gains and approaches 98.00.
- Immediately to the upside emerges the 2020 peak near 98.20.
DXY has fully faded Friday’s sharp pullback and is now re-focuing its attention to the key barrier at 98.00 the figure.
Following the breakout of the 200-day SMA around 97.70, the index is now testing the 97.90 region, where coincide the 100-day SMA and a a Fibo retracement of the 2017-2018 drop.
While above the 200-day SMA, the dollar is expected to attempt another move to the YTD tops around 98.20.
DXY daily chart