US Dollar Index Technical Analysis: Upside ready to tackle the 98.50 area
|- The recovery in DXY remains well and sound near multi-week highs.
- Further gains are likely once 98.50 is cleared on a sustainable fashion.
DXY keeps the constructive bias unchanged above the key 98.00 mark on Wednesday.
Further upside impetus should now target monthly tops in the 98.50 region. A convincing breakout of this hurdle should pave the way for a move to the 99.00 hurdle and potentially beyond.
Looking at the broader context, the positive view on DXY is expected to remain unchanged while above the 200-day SMA, today at 97.58.
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