US Dollar Index Price Analysis: Rising odds for a visit to the 2022 top

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  • DXY keeps the choppy trade unchanged around 110.00.
  • Extra upside could see the cycle high near 110.80 revisited.

DXY resumes the upside following Friday’s daily retracement.

Despite the ongoing consolidation trade, the dollar’s short-term bullish view remains unchanged while above the 7-month support line near 106.50. Against that, another bull run to the YTD peak around 110.80 remains well on the cards for the time being.

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 101.73.

DXY daily chart