- DXY rises above the 96.00 hurdle.
- The next target of relevance is seen around 96.90.
The US Dollar Index (DXY) posts gains for the third consecutive session on Monday, extending gains above the 96.00 barrier.
If the recovery gains stronger traction, the index is expected to return to the 96.90 region, where the November and December 2021 highs lie. Breaking above this level should expose a move to the 2022 peak around 97.40 ( January 28).
In the short term, the 5-month line near 95.20 is expected to hold weakness for now. Looking at the bigger picture, the dollar’s long-term positive stance remains unchanged from remaining above the 200-day SMA at 93.62.
DXY day chart
Source: Fx Street
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