US Dollar Index Price Analysis: Rising bets for a move to 101.00
|- DXY is flirting with the key barrier in the 100.50 region on Wednesday.
- Immediately to the upside emerges the April’s top near 101.00.
The upside momentum in DXY remains well and sound and is now extending the move up to the area beyond the key hurdle at 100.50.
If buyers keep pushing, then the dollar could change the monthly peaks in the 101.00 neighbourhood. From there, the only resistance of note emerges at the 2020 highs near 103.00 the figure recorded in mid-March.
Furthermore, the constructive bias is seen unchanged above the 200-day SMA, today at 98.27.
DXY daily chart
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