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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

 

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