US Dollar Index Price Analysis: Another test of the 2022 high appears in store… soon

• DXY keeps navigating in the upper end of the range just below 110.00.
• Further upside could well see the YTD peak past 110.00 revisited.

DXY trades with modest gains in the 109.70/80 band on Tuesday.

The short-term bullish view in the dollar remains well in place for the time being and propped up by the 7-month support line, today around 105.80.

Still on the upside, the surpass of the recent top at 110.27 (September 5) could face the next barrier at the weekly highs at 111.90 (June 6 2002) and 113.35 (May 24 2002).

Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 101.13.

However, the current overbought conditions of the index could trigger some corrective downside, which should be seen as a buying opportunity.

DXY daily chart