US Dollar Index Price Analysis: Extra gains expected above 101.00

• DXY manages to rebound from Tuesday’s low in sub-100.00 levels.
• The immediate up barrier emerges at weekly peaks around 101.00.

DXY has managed to regain some poise and reclaim the key 100.00 mark on Wednesday after bottoming out near 99.80 in the previous session.

If sellers regain the upper hand, then the 55-day SMA at 98.85 should provide interim support ahead of the late-March lows near 98.30. This is considered the last defence for a test of the key 200-day SMA, today at 98.12.

On the upside, a move above weekly tops around 101.00 the figure should open the door to a potential move to YTD highs in the boundaries of the 103.00 mark.

DXY daily chart