US Dollar Index Price Analysis: Upside bias remains unchanged

• DXY falters once again around the 99.00 region on Tuesday.
• Further gains are likely on a close above 99.00.

DXY navigates within a tight range near the 99.00 region so far on turnaround Tuesday.

DXY manages well to extend further the bounce off the decent contention area in the 97.70 zone (March 30,31), while the ongoing rebound keeps targeting the 99.00 yardstick and beyond in the near term. Above this level is seen the 2022 highs around 99.40.

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 94.94.

DXY daily chart