- The dollar index (DXY) continues to rise and records new highs around 101.70.
- If it continues to rise, there could be a test of 2020 highs near the revised 103.00.
The US Dollar Index (DXY) keeps the offered bias nice and solid and makes fresh cycle highs beyond 101.70 on Monday.
The strong rebound from the 99.80 area (April 21) has the potential to extend further. Against that, the break of the 2022 high at 101.73 (April 25) could convincingly motivate the index to attempt a visit to the 2020 high at 102.99 (March 20).
The current bullish stance on the index remains supported by the 7-month line near 96.70, while the long-term outlook for the dollar is seen as constructive above the 200-day SMA at 95.50.
DXY daily chart
Technical levels
Source: Fx Street
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