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- US Dollar Index Price Analysis: Extra gains remain on the table
US Dollar Index Price Analysis: Extra gains remain on the table
- DXY briefly surpassed 94.50 to clinch new 2021 highs.
- Further up comes the 94.74/76 region.
DXY adds to Monday’s gains and manages to re-visit the 94.50 region on turnaround Tuesday.
The ongoing price action allows the index to extend the leg lower to the area above 94.50 in the short-term horizon. That said, the next target is seen at the September 2020 high at 94.74 followed by the 200-week SMA, today at 94.76. Further north should come the round level at 95.00, also in the not-so-distant future.
Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 91.72.
DXY daily chart
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