The next level of relevance appears at 97.80

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  • The DXY records a new high for 2021 at 95.26 on Friday.
  • Then on the upside appears the level of 97.80 (June 30, 2020 high).

The U.S. dollar index (DXY) extends the rally for another session and achieves new highs for this year in the 95.25 / 30 band at the end of the week.

Both the macro and the technical outlook favor additional gains in the dollar for the time being. That said, as long as it remains above the first highs of 94.50 (Oct 12 high) the index is expected to initially target the 96.00 and 97.00 levels, while a more significant level is at the high. June 30, 2020 at 97.80.

Looking at the bigger picture, the constructive stance on the index looks intact as long as it remains above the 200-day SMA at 92.13.

DXY day chart

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