USD Index Price Analysis: Further upside favoured near term

• DXY advances further and clinches new multi-month tops.
• Extra upside is expected to retest the 2023 top near 105.90.

DXY resumes the uptrend and reaches fresh six-month highs in the 105.75/80 band at the end of the week.

The continuation of the upside momentum in the index is expected to challenge the 2023 top at 105.88 (March 8) sooner rather than later. The surpass of this level could put a move to the round level at 106.00 rapidly back on the radar.

While above the key 200-day SMA, today at 103.04, the outlook for the index is expected to remain constructive.

DXY daily chart