US Dollar Index Price Analysis: Recovery targets 99.00 and above

• DXY finally sees some light at the end of the tunnel.
• Next on the upside comes the 99.00 yardstick.

DXY regains the 98.00 mark and above following the earlier drop to the 97.80 region at the end of the week.

The continuation of the bid tone in the index carries the potential to extend to the next target of note at the 99.00 neighbourhood ahead of the weekly high at 99.29 (March 14) and the 2022 peak at 99.41 (March 7).

The current bullish stance in the index remains supported by the 6-month line, today near 95.90, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.51.

DXY daily chart