- The US Dollar Index (DXY) accelerates higher and breaks above 105.00 on Friday.
- The next target is at the 2023 high, near 105.60.
The US dollar index (DXY) extends bullish momentum beyond the 105.00 barrier by the end of the week.
For the moment, the evolution of prices favors the continuation of the upward trend. That being said, the greenback could now challenge the 2023 high at 105.63 (Jan 6) in the near term ahead of the key 200-day SMA at 106.46 today.
Longer-term, the outlook for the index remains negative as long as it holds below the 200-day SMA.
DXY daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
