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- US Dollar Index Price Analysis: Another visit to the 2022 top remains in place
US Dollar Index Price Analysis: Another visit to the 2022 top remains in place
- DXY fades Wednesday’s retracement and flirts with 110.00.
- Extra upside could see the 2022 high near 110.80 revisited.
DXY trades with decent gains in the vicinity of the 110.00 mark, leaving behind the previous day’s decline.
The dollar manages well to keep the trade in the upper end of the recent range and its short-term bullish view remains unchanged while above the 7-month support line around 106.30.
That said, the surpass of the 110.00 neighbourhood should put the index en route to a probable visit to the YTD top at 110.78 (September 7).
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 101.60.
DXY daily chart
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