- DXY leaves Thursday’s pullback behind and retraces 105.00.
- Further up is the 2022 high near 105.80 (June 15).
The US Dollar Index (DXY) resumes the rises and recovers the area beyond 105.00 the figure of the end of the week, managing to maintain the trade in the area of 2-week highs.
Further dollar gains are expected to prompt the index to attempt a revisit to yearly highs hit so far near 105.80 following the June FOMC event. If it succeeds, a test of 107.31 December 2002 could begin to loom on the horizon.
As long as the 4-month line near 102.40 contains the declines, the short-term outlook for the index should remain constructive.
Longer term, the dollar’s outlook is bullish as long as it is above the 200-day SMA at 98.13.
DXY daily chart
Technical levels
Source: Fx Street
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