USD Index Price Analysis: Temporary barrier comes at 111.10

• DXY picks up extra upside traction and flirts with 111.00.
• The 55-day SMA emerges as the next target near 111.10.

DXY adds to Wednesday’s buying interest and trades just pips away from the key 111.00 mark on Thursday.

Extra recovery now faces the immediate hurdle at the interim 55-day SMA at 111.08. If the index manages to leave behind this level, then the next target of relevance is expected at the so far November top at 113.14 (November 3).

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 104.74.

DXY daily chart