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US Dollar Index Price Analysis: The 99.00 mark is just around the corner

  • The rally in DXY looks unabated despite Tuesday’s lack of direction.
  • Next on the upside comes the 99.00 mark ahead of 99.37.

DXY looks doubtful after printing fresh yearly highs in levels just shy of 99.00 the figure during early trade on Tuesday.

The positive outlook on the dollar remains unchanged while above the critical 200-day SMA at 97.74. This area of contentions is also reinforced by the proximity of the Fibo retracement of the 2017-2018 drop at 97.87.

Immediately to the upside emerges 99.37 (high September 3rd 2019 ahead of 2019 high at 99.67 recorded on October 1st.

DXY daily chart

 

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