US Dollar Index Price Analysis: Upside momentum now looks to 92.46

DXY accelerates the march north and clinches new yearly highs just above 92.00 the figure on Friday. The continuation of the uptrend looks likely in t  |  05/03/2021 11:38
  • DXY records fresh 2021 highs above the 92.00 barrier.
  • The next hurdle is located at the Fibo level at 92.46.

DXY accelerates the march north and clinches new yearly highs just above 92.00 the figure on Friday.

The continuation of the uptrend looks likely in the near-term. That said, there is a minor hurdle at 92.46, where sits a Fibo level of the 2020-2021 drop. Further up comes in the always relevant 200-day SMA at 92.93.

A break above the 200-day SMA (92.93) should shift the outlook to a more constructive one and allow for extra gains to, initially, the November 2020 highs near 94.30 (November 2).

DXY daily chart

 

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