USD INDEX PRICE ANALYSIS: NEXT ON THE UPSIDE COMES THE 2023 PEAK
DXY now reverses two daily pullbacks in a row on Friday.
Further recovery targets the YTD top near 107.30.
DXY stages quite a marked comeback and sets aside two consecutive sessions of losses on Friday.
Considering the ongoing price action, extra gains appear likely in the dollar for the time being. Once the index clears the 2023 top of 107.34 (October 3), it could encourage bulls to challenge the weekly peak at 107.99 (November 21 2022) just ahead of the round level at 108.00.
In the meantime, while above the key 200-day SMA, today at 103.16, the outlook for the index is expected to remain constructive.
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