US Dollar Index Price Analysis: Rising bets for a visit to the 2022 high

• DXY accelerates the upside and reclaims 99.00 on a convincing note.
• Next on the upside now comes the YTD high at 99.41.

The dollar adds to the ongoing uptrend and pushes the index back above the key 99.00 yardstick at the beginning of the week.

Monday’s advance manages to retest the 99.30 region and another visit to the 2022 peak at 99.41 (March 7) now looks imminent. Once cleared, DXY will be looking to test the psychological 100.00 barrier in the relatively near term ahead of the May 2020 top at 100.55.

The current bullish stance in the index remains supported by the 6-month line just above the 96.00 level, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.74.

DXY daily chart