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US Dollar Index Price Analysis: DXY grinds to fresh 2020 highs, challenges 99.20 resistance

  • DXY is holding above the 99.00 figure as the index is printing fresh 2020 highs by a few ticks this Friday. 
  • The level to beat for bulls is the 99.20 resistance.

DXY daily chart

The US dollar index (DXY) is trading near its highest since October while trading well above its main daily simple moving averages (SMAs). DXY is spiking to the upside printing a fresh 2020 high by a few ticks this Friday. 

DXY four-hour chart

DXY is holding above the 99.00 figure as the market is trading well above its main SMAs. The bulls remain relentless as the market keeps grinding to the upside. Buyers are looking for a break above the 99.20 resistance to trade towards the 99.40 level. Support is seen at the 99.00 figure and 98.50 level. 

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