US Dollar Index Technical Analysis: Next on the upside emerges 99.89, May 2017 high

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US Dollar Index Technical Analysis: Next on the upside emerges 99.89, May 2017 high

  • DXY has gathered extra upside traction in response to the FOMC event on Wednesday.
  • As expected a positive surprise from Chief Powell motivated the greenback to pick up further pace and record fresh YTD peaks just below the key barrier at 99.00 the figure.
  • On the way up, the next relevant hurdle comes in at May 2017 high at 99.89 ahead of the psychological 100.00 handle. While above the critical 200-day SMA, today at 96.90, the positive bias is expected to persist.
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