US Dollar Index Price Analysis: Bulls now target 100.55
- DXY keeps the buying bias intact around the 100.00 zone.
- Beyond 100.00 the index should retest 100.55.
DXY extends the march north and flirts with the psychological barrier at 100.00 the figure on Friday.
The ongoing price action is supportive of extra gains in the very near term. Against that, the breakout of the 100.00 yardstick should put the index en route to test the May 2020 high at 100.55 sooner rather than later.
The current bullish stance in the index remains supported by the 6-month line near 96.30, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 95.05.