US Dollar Index Price Analysis: Bulls target 99.00 and above

• DXY adds to recent gains above the 98.00 mark.
• Further recovery looks to regain the 99.00 neighbourhood.

The index extends the recovery to the 98.60 region ahead of the key Nonfarma Payrolls on Friday.

DXY manages well to extend further the bounce off decent contention area in the 97.70 zone (March 30,31) and the ongoing rebound is expected to target the 99.00 neighbourhood and beyond in the near term.

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 94.87.

DXY daily chart