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- US Dollar Index Price Analysis: Now targets the 2022 high at 96.46
US Dollar Index Price Analysis: Now targets the 2022 high at 96.46
- DXY advances to multi-day highs and flirts with 96.00.
- The YTD peak at 96.46 emerges as the next hurdle of note.
DXY quickly leaves behind Friday’s downtick and resumes the way up to the proximity of the 96.00 mark on Monday.
The intense upside in the dollar has recently surpassed the 4-month line, today near 95.30, and in doing so it has reinstated the short-term bullish bias. That said, a break above the temporary barrier at the 55-day SMA (95.89) should open the door to a move to the so far 2022 top at 96.46 (January 4).
Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.24.
DXY daily chart
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