US Dollar Index Price Analysis: Next target on the upside is at 94.80
|- DXY finally breaks above the 94.00 barrier on Wednesday.
- The resistance line near 94.80 emerges as the next interim hurdle.
The persistent upside momentum in the dollar pushed DXY to fresh multi-week peaks above the 94.00 yardstick on Wednesday.
The continuation of this trend now targets the 94.80 region, where sits the 6-month resistance line ahead of other minor hurdles at the 100-day SMA (95.64) and a Fibo level at 96.03.
The bearish view on DXY is seen unchanged while below the 200-day SMA, today at 97.13.
DXY daily chart
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