- US Dollar Index (DXY) reverses Tuesday’s pullback and targets 99.00.
- Next, the upside lines up with the weekly high at 99.29 (March 14).
The US Dollar Index (DXY) Weekly recovery resumes, though a test/break of 99.00 remains elusive for USD bulls.
The continuation of the tone offered in the index carries the potential to extend to the next notable target in the neighborhood of 99.00 before the weekly high at 99.29 (March 14). The break of this level should retest the 2022 high at 99.41 (March 7) sooner rather than later.
The current bullish stance on the index remains supported by the 6-month line just below 96.00, while the long-term outlook for the dollar is seen as constructive above the 200-day SMA at 94.63.
daily chart
Additional technical levels
Source: Fx Street
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