- The DXY index looks to extend Friday’s gains above the 95.00 level.
- The 55-day SMA at 95.73 emerges as the next resistance.
The DXY Index struggles to find direction just above the 95.00 level and looks to extend the recent rally during the European session on Monday.
If the recovery finds serious traction, then the DXY should break out of the 4-month resistance line near 95.20. Above this area, further gains are likely with the immediate target at the 55-day SMA at 95.73. Also, another visit to the 2022 high at 96.46 (Jan 4) could start to form.
Looking at the bigger picture, the long-term positive stance remains unchanged above the 200-day SMA today at 93.14.
DXY daily chart
US Dollar Index DXY Technical Levels
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