US Dollar Index Price Analysis: Rising bets for extra gains

DXY looks to challenge Thursday’s highs near 105.00.

Further upside should target the 105.60/65 region.

DXY keeps the bullish bias well in place north of the 104.00 hurdle at the end of the week.

Considering the ongoing price action, further gains in the index remains well on the cards and with the immediate hurdle at the round level at 105.00 ahead of 105.63 (December 11 2002 high). Further up, the index is expected to challenge the December 2002 high at 107.31.

The current bullish stance in the index remains supported by the 8-month line around 97.00, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 96.28.

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