USD Index Price Analysis: Next hurdle emerges around 106.00
- DXY navigates within a tight range still below 106.00.
- Further upside momentum should challenge the 106.00 barrier.
DXY looks to extend further last week’s rebound, although the 106.00 region proves to be quite a strong barrier for the time being.
Once the 106.00 hurdle is cleared, the index could then embark on a potential test of the November peak at 107.11 (November 1) ahead of the 2023 high of 107.34 (October 3).
In the meantime, while above the key 200-day SMA, today at 103.60, the outlook for the index is expected to remain constructive.
DXY daily chart
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