USD Index Price Analysis: Door open to a visit to the 105.60 region
|- The index extends the advance well past the 104.00 mark.
- Extras gains now target the YTD high at 105.63.
The upside momentum gathers extra impulse and lifts DXY to new monthly highs near 104.70 on Friday.
The ongoing price action favours the continuation of the uptrend for the time being. Further bouts of strength are now expected to put a potential test of the 2023 top at 105.63 (January 6) back on the investors’ radar in the not-so-distant future.
In the longer run, while below the 200-day SMA at 106.44, the outlook for the index remains negative.
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.