- The DXY accelerates the raises and recovers 99.00 convincingly.
- The next relevant level appears at this year’s high at 99.41.
The dollar extends the ongoing uptrend and pushes the DXY (US Dollar Index) back above the key 99.00 zone earlier in the week.
Monday’s advance leads to a retest of the 99.30 region and sees it on another visit to the 2022 peak at 99.41 (March 7). Once the latter clears, DXY will look to test the 100.00 psychological barrier in relatively short order before the May 2020 peak at 100.55.
The current bullish stance in the index remains supported by the 6-month line just above the 96.00 level, while the longer-term outlook for the dollar looks constructive if it continues above the 200-day simple moving average in 94.74.
DXY day chart
Source: Fx Street
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