- The US Dollar Index (DXY) is under some pressure and breaks above 105.00.
- Continuation of the uptrend could see 2022 revised.
The US Dollar Index (DXY) faces moderate selling pressure and breaks below the 105.00 support at the start of the week.
On the short-term horizon, the dollar continues to rise. On the contrary, the index could attempt a new visit to the yearly highs reached so far, near 105.80, recorded after the FOMC event on June 15. If it is passed, the next major hurdle will be the December 2002 hurdle at 107.31.
As long as the 4-month line near 102.45 contains the declines, the short-term outlook for the index should remain constructive.
The broader bullish view holds as long as it is above the 200-day SMA at 98.19.
DXY daily chart
Technical levels
Source: Fx Street
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