US Dollar Index Price Analysis: Recovery targets the YTD peaks

• DXY reverses part of Friday’s sharp pullback.
• The immediate target comes at the 2021 high near 97.00.

DXY manages to regain some composure after Friday’s selloff and advances to the vicinity of 96.40 on Monday.

Above current YTD peaks should come the round mark at 97.00. The surpass of the latter could prompt the index to attempt a move to the 97.80 level (high June 30).

In the meantime, while above the 2-month support line (off September’s low) just beyond 94.00, extra gains in DXY remain well on the table. In addition, the broader constructive stance remains underpinned by the 200-day SMA at 92.44.

DXY daily chart