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24 Oct 2022
USD Index Price Analysis: Another visit to 114.00 looks on the table
- DXY gathers traction and reverses two daily drops in a row.
- The ongoing rebound should target the 114.00 region near term.
DXY reclaims the area beyond 112.00 the figure on Monday after two straight sessions with losses.
The continuation of the recovery should refocus on recent tops near 114.00. The surpass of this level should put a visit to the 2022 top at 114.78 (September 28) back on the radar in the short-term horizon.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 8-month support line near 108.20, an area coincident with the 100-day SMA.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 103.78.
DXY daily chart
