Bullish momentum emerges from the 92.46 zone

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  • The DXY records new 2021 highs above the 92.00 barrier.
  • The next hurdle is at the Fibonacci level at 92.46.

The US Dollar Index (DXY) accelerated northward and hit new yearly highs just above 92.00 on Friday.

A continuation of the uptrend seems likely in the short term. That said, there is a minor hurdle at 92.46, where a Fibonacci level from the 2020-2021 dip lies. Ahead is the always relevant 200-day SMA at 92.93.

A break above the 200-day SMA (92.93) should change the outlook to a more constructive one and allow further gains until initially the November 2020 highs near 94.30 (November 2 high).

DXY day chart

dxy

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