US Dollar Index Technical Analysis: Recovery seen regaining the 98.00 mark and beyond in the near term

• DXY has returned to the boundaries of the key barrier at 98.00 the figure, extending the weekly recovery and opening the door at the same time for further gains in the short-term horizon.
• In fact, if 98.00 is cleared it should allow for a visit to April’s highs around 98.30 ahead of YTD peaks near 98.40 recorded earlier this month.
• All in all, the bullish view on the buck remains unchanged while above the key 200-day SMA at 96.43 and the medium-term support line at 96.38.

DXY daily chart