USD Index Price Analysis: Next stop at the 2022 high?
|- DXY extends the upside move beyond the 113.00 yardstick.
- The continuation of the rebound could see the YTD peak revisited.
DXY’s bounce picks up extra pace and leaves behind the key barrier at 113.00 the figure at the beginning of the week.
If bulls push harder and the index surpasses 114.00, then the next target of note should emerge at the 2002 peak near 114.80 recorded on September 28 ahead of 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 7-month support line near 107.60.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 102.93.
DXY daily chart
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