USD Index Price Analysis: Further upside targets the 2023 top
|- DXY comes under some mild selling pressure on Monday.
- Immediately to the upside emerges the yearly peak.
DXY adds to Friday’s small losses and revisits the 105.20/15 band at the beginning of the week.
The continuation of the multi-month rally appears well and sound and a breakout of the monthly high of 105.43 (September 14) should encourages the index to retest the 2023 peak of 105.88 (March 8), just before the round level of 106.00.
While above the key 200-day SMA, today at 103.02, the outlook for the index is expected to remain constructive.
DXY daily chart
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