The 2022 high is just around the corner

  • DXY surpasses the 105.00 hurdle with certain conviction.
  • The 2022 peak near 105.80 (June 15) comes next.

DXY advances for the third consecutive session and looks to consolidate the recent breakout of the 105.00 barrier on Thursday.

The index has rapidly left behind the weekly high near 105.00 (June 22) and in doing so it has opened the door to a relatively quick potential visit to the YTD highs around 105.80 (June 15).

As long as the 4-month line near 102.30 holds the downside, the near-term outlook for the index should remain constructive.

Looking at the longer run, the outlook for the dollar is seen bullish while above the 200-day SMA at 98.08.

DXY daily chart

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