USD INDEX PRICE ANALYSIS: EXTRA GAINS APPEAR IN STORE NEAR TERM
- DXY extends the upside momentum near 106.00.
- Further up comes the weekly top past the 107.00 barrier.
DXY climbs to the vicinity of the 106.00 region amidst the positive price action so far this week.
In case the buying interest gathers extra pace, the index could revisit the so far November high at 107.11 (November 1) ahead of the 2023 peak of 107.34 (October 3).
In the meantime, while above the key 200-day SMA, today at 103.55, the outlook for the index is expected to remain constructive.
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