US Dollar Index Price Analysis: Extra gains line up above 92.50
|- DXY resumes the (small) upside following Tuesday’s retracement.
- Next on the upside comes in the YTD peaks in the mid-92.00s.
DXY appears to have regained the smile on Wednesday. The rejection from the 92.50 area (March 9) seems to have met decent contention in the 92.00 neighbourhood for the time being.
The continuation of the uptrend looks likely despite the ongoing correction, which is also seem justified on the recent overbought conditions of the index. A surpass of YTD tops around 92.50 should put the 200-day SMA at 92.85 back on the radar.
A break above the latter should shift the outlook to a more constructive one and allow for extra gains to, initially, the November 2020 highs near 94.30 (November 2).
DXY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.