US Dollar Index Price Analysis: Near-term top in place?

  • DXY reclaims part of the ground lost on Thursday.
  • The June high at 102.73 caps the upside so far.

DXY regains some composure and looks to extend the rebound further north of the 102.00 mark on Friday.

So far this week, bullish attempts appear limited by the June 1 top at 102.73. Beyond this area, there are no resistance levels of note until the 2022 high at 105.00 (March 13).

As long as the 3-month line near 101.00 holds the downside, extra gains in the dollar look likely in the short-term horizon.

Looking at the longer run, the outlook for the dollar is seen as constructive while above the 200-day SMA at 96.98.

DXY daily chart

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