USD Index Price Analysis: Extra gains need to surpass 105.15
|- DXY fades the earlier bull run to the boundaries of 105.00.
- Immediately to the upside emerges the monthly high at 105.15.
DXY gives away initial gains and now recedes to the 104.60 region on Wednesday.
The continuation of the multi-week rally appears well and sound and a breakout of 105.00 should encourages the index to retest the September top of 105.15 (September 7) prior to the 2023 peak of 105.88 (March 8).
While above the key 200-day SMA, today at 103.02, the outlook for the index is expected to remain constructive.
DXY daily chart
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