US Dollar Index Price Analysis: Next stop on the upside at 91.90

• DXY extends the recent breakout of the 91.00 level.
• Next resistance is located at the 100-day SMA near 91.90.

DXY pushes higher and navigates the area of fresh 2021 peaks around 91.30 on Wednesday.

The recent surpass of the 91.00 area gives extra legs to the dollar’s recovery and could motivate the index to attempt a test of, initially, the 100-day SMA in the vicinity of 91.90 in the near-term. The recent breakout of the 2020-2021 resistance line (around 90.80) has mitigated the downside pressure somewhat and reinforces this view latter.

The ongoing rebound is seen as corrective only and in the longer run, as long as DXY trades below the 200-day SMA, today at 93.90 the bearish stance is expected to persist.

DXY daily chart