Thursday, June 8, 2023
HomeUncategorizedDollar Index Price Analysis: Rising stakes to test 2022 highs

Dollar Index Price Analysis: Rising stakes to test 2022 highs

  • DXY made a new high above the 108.00 mark.
  • There is now room to move to a high after 109 in 2022.

DXY rose for the third time in a row and printed a new multi-week top Friday at the 108.00 mark on the north side.

Upward momentum continues, currently expected to target a YTD high of 109.29 (July 14) September 2002 high Point 109.77. From here a circular level of 110.00 emerges. Meanwhile, the 6-month support line continues to rise near 104.90. Above this area, the index is expected to remain positive in the short-term. Long-term, the bullish USD view remains above the 200-day SMA at 100.35.

DXY Daily Chart


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