US Dollar Index Price Analysis: Recovery faces the next hurdle around 94.70

• DXY extends the rebound beyond 94.60 on Friday.
• Next on the upside emerges the resistance line near 94.70.

The positive note in the dollar stays unabated at the end of the week and lift DXY to fresh 2-month peaks above 94.60.

The continuation of the bullish impetus is forecasted to meet the 6-month resistance line in the 94.70/75 band ahead of other minor hurdles at the 100-day SMA (95.54) and a Fibo level at 96.03.

In spite of the current bounce, the bearish view on DXY is seen unchanged while below the 200-day SMA, today at 97.10.

DXY daily chart