- DXY quickly surpasses the 98.00 mark on Friday.
- Next on the upside comes the triple-digit barrier.
DXY clinches fresh cycle tops well north of the 98.00 mark at the end of the week.
There is scope for the continuation of the uptrend in the very near term. Against that, there are no hurdles of relevance until the the 99.97 level (May 25 2020 high), which precedes the psychological 100.00 mark.
The short-term bullish stance remains supported by the 5-month line, today near 95.60, while the longer-term outlook for the dollar is seen as constructive above the 200-day SMA at 94.08.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
GBP/USD declines toward 1.2900 after weak UK data
GBP/USD loses its traction in the European morning on Friday and declines toward 1.2900. The data from the UK showed that the Gross Domestic Product contracted by 0.1% on a monthly basis in January, while Manufacturing Production decreased by 1.1%, weighing on Pound Sterling.
EUR/USD drifts lower below 1.0850 on US-EU tariff dispute
The EUR/USD pair edges lower to around 1.0835 during the Asian trading hours on Friday. The Euro weakens against the US Dollar amid an escalating trade war between the United States and the European Union.
Gold price consolidates near record high; remains close to $3,000 amid rising trade tensions
Gold price remains well supported by the uncertainty surrounding Trump’s aggressive trade policies. Fed rate cut bets further benefit the yellow metal, though a modest USD uptick caps further gains. An improvement in global risk sentiment would further warrant some caution for the XAU/USD bulls.
Cardano could hit $0.50 despite high probability of US Fed rate pause
Cardano price stabilized above $0.70 after posting another 5% decline in its 3rd consecutive losing day. Multiple ADA derivatives trading signals are leaning bullish, but the US trade war impact outweighs the positive shift in inflation indices.
Brexit revisited: Why closer UK-EU ties won’t lessen Britain’s squeezed public finances
The UK government desperately needs higher economic growth as it grapples with spending cuts and potential tax rises later this year. A reset of UK-EU economic ties would help, and sweeping changes are becoming more likely.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.