- DXY index hits new highs just above 104.00.
- The next level to the upside emerges at the 105.32 level.
The US dollar index (DXY) is under some selling pressure after reaching new 19-year highs beyond 104.00 on Friday.
The underlying bullish outlook for the dollar remains in place for now. That said, further gains above the 104.00 region should propel the index towards the next target at 105.63 (11 Dec 2002 high) ahead of the Dec 2002 high at 107.31.
The index’s current bullish stance remains supported by the 8-month line at the 96.85/90 zone, while the long-term outlook for the dollar looks constructive as long as it is above the 200 simpel moving average (SMA). days at 95.98.
DXY day chart
Source: Fx Street
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