US Dollar Index Price Analysis: Extra gains expected above 99.00

• DXY pushes higher and approaches the 99.00 mark.
• Beyond 99.00 comes the 2022 peaks around 99.40.

DXY adds to Friday’s gains and trades just pips away from the key 99.00 barrier on Monday.

DXY manages well to extend further the bounce off the decent contention area in the 97.70 zone (March 30,31), while the ongoing rebound keeps targeting the 99.00 yardstick and beyond in the near term. Above this level is seen the YTD highs around 99.40.

The current bullish stance in the index remains supported by the 6-month line near 96.20, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.90.

DXY daily chart