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21 Oct 2022
USD Index Price Analysis: The dollar wants more and targets the 2022 high
- DXY resumes the upside and approaches the 114.00 zone.
- The 2022 high near 114.80 now emerges on the horizon.
DXY quickly leaves behind Thursday’s small drop and advances to the proximity of the 114.00 yardstick on Friday, or 3-week peaks.
If the index breaks below the 114.00 region, then it could dispute the YTD high at 114.78 (September 28) prior to the round level at 115.00.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 8-month support line near 108.20. The proximity of the 100-day SMA also reinforces this region.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 103.70.
DXY daily chart
