US Dollar Index Price Analysis: Increasing bets for another test of the 2022 high
|- DXY leaves behind Thursday’s pullback and regains 105.00.
- Further up aligns the 2022 top near 105.80 (June 15).
DXY resumes the upside and reclaims the area beyond 105.00 the figure at the end of the week, managing well to keep the trade in the 2-week highs zone.
Further upside in the dollar is forecast to motivate the index to attempt another visit to the so far yearly highs near 105.80 recorded in the wake of the FOMC event in June. If cleared, then a test of the December 2002 at 107.31 could start emerging on the horizon.
As long as the 4-month line near 102.40 holds the downside, the near-term outlook for the index should remain constructive.
Looking at the longer run, the outlook for the dollar is seen bullish while above the 200-day SMA at 98.13.
DXY daily chart
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