- DXY appears lateralized at the upper end of the recent range.
- Immediately on the upside comes the yearly high near 104.20.
The US Dollar Index (DXY) trades with no clear direction below Monday’s 19-year highs around 104.20.
Based on recent price action, the index could face some consolidation in the near term. The break above could expose a test of the 2022 high at 104.18 (May 9) before the round level at 105 and before 105.63 (11 Dec 2002 high).
The current bullish stance on the index remains supported by the 8-month line near 97.00, while the long-term outlook for the dollar is seen as constructive above the 200-day SMA at 96.09.
DXY daily chart
Technical levels
Source: Fx Street
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