USD Index Price Analysis: Further recovery targets 114.00
|- DXY reverses the recent weakness and regains the 113.00 mark.
- Above the 114.00 region comes the 2022 high near 114.80.
DXY advances markedly and reclaims the area beyond the 113.00 mark at the end of the week.
In case bulls regain the initiative and the index surpasses 114.00, then the next target of note should appear at the 2002 high at 114.78 (September 28) prior to the round level at 115.00.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 8-month support line near 107.90.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 103.27.
DXY daily chart
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