US Dollar Index Price Analysis: Next On The Upside Comes The 2021 High

Editor • Oct 18, 2021 at 8:35 AM EDT

DXY reverses the recent weakness and retakes the 94.20 area. Further upside is expected to re-visit the YTD peak at 94.56.

DXY so far posts gains for the first time after three consecutive daily pullbacks, including new weekly lows around 93.75 (October 14).

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The corrective downside appears so far contained near 93.70. If the incipient recovery gathers traction, then there are no significant hurdles until the 2021 high at 94.56 recorded on October 12 ahead of the round level at the 95.00 barrier.

Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 91.80.

DXY daily chart

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