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US Greenback Index Worth Evaluation: Scope for further upside

  • DXY clinches new cycle peaks close to 96.80 midweek.
  • Additional upside is seen testing the 97.00 yardstick.

DXY pushes greater and data new 16-month tops within the neighborhood of 96.80 on Wednesday.

The continuation of the uptrend appears to be like the probably situation in the meanwhile. That mentioned, the spherical stage at 97.00 now emerges because the quick goal for greenback bulls forward of 97.80 (June 30 2020).

Within the meantime, whereas above the 2-month assist line (off September’s low) slightly below 94.00, further positive factors in DXY stay properly on the desk. The broader constructive stance stays underpinned by the 200-day SMA at 92.35.

DXY each day chart

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