US Dollar Index Price Analysis: Further upside remains on the table

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  • DXY corrects lower following recent multi-month tops.
  • Next on the upside comes in the YTD highs in the mid-93.00s.

The index came under pressure following tops past the 93.00 mark earlier in the week.

In light of the recent price action, further gains remain well on the cards with the immediate target now emerging at the 2021 peaks in the 93.50 zone (March 31).

In the meantime, and looking at the broader scenario, the positive stance on DXY is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.36.

DXY daily chart