- DXY manages to hit new cycle highs beyond 97.80 midweek.
- The round level at 98.00 is next for the USD bulls.
The US Dollar Index (DXY) advances for the third consecutive session and registers new yearly highs in the 97.80/85 zone on Wednesday.
Bets for a continuation of the upside continue to rise in the short term with the immediate hurdle now at the round 98.00 level. Above here there are no relevant barriers until the 99.97 level (May 25, 2020 high).
The constructive short-term stance remains supported by the 5-month line today near 95.60, while the outlook for the dollar looks positive above the 200-day SMA at 94.00 long-term.
DXY daily chart
Additional technical levels
Source: Fx Street
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