US Dollar Index Price Analysis: Next on the upside comes the YTD high
|- DXY reverses the recent weakness and breaks above 94.00.
- Further north comes the 2021 peaks beyond 94.60.
DXY manages to regain some buying pressure and advances past the 94.00 yardstick on Wednesday.
If the upside impulse gathers extra steam, then there are no hurdles of note until the 2021 high at 94.62 recorded on November 5. A move above this level is expected to target the September 2020 high at 94.74 ahead of the round level at 95.00.
Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 92.09.
DXY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.