US Dollar Index Price Analysis: A move above 105.00 opens the door to extra upside

• DXY rebounds and falters just ahead of the 105.00 level.
• Further up emerges the 2022 high near 105.80.

DXY extends the upside to the boundaries of the 105.00 neighbourhood on Wednesday.

Ideally, the index should surpass the 105.00 area in the near term to allow for the recovery to gather momentum and attempt a visit to the nearly 20-year peak in the 105.80 zone (June 15).

As long as the 4-month line around 101.90 holds the downside, the near-term outlook for the index should remain constructive.

Looking at the longer run, the outlook for the dollar is seen bullish while above the 200-day SMA at 97.73.

DXY daily chart