US Dollar Index Price Analysis: There is still room for extra gains
|- DXY comes under some pressure and breaches 105.00.
- The continuation of the uptrend could see the 2022 revisited.
DXY faces some moderate selling pressure and breaks below the 105.00 support at the beginning of the week.
Further upside in the dollar remains in store in the short-term horizon. Against that, the index could attempt another visit to the so far yearly highs near 105.80 recorded in the wake of the FOMC event on June 15. If cleared, then the next hurdle of relevance is seen at the December 2002 at 107.31.
As long as the 4-month line near 102.45 holds the downside, the near-term outlook for the index should remain constructive.
The broader bullish view remains in place while above the 200-day SMA at 98.19.
DXY daily chart
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