US Dollar Index Price Analysis: Recovery has further legs to go

• DXY regains part of the ground lost on Wednesday’s pullback.
• The surpass of monthly peaks could extend to 93.00.

DXY leaves behind the initial pessimism and now returns to the positive ground in the 92.50 zone.

The prospects for the dollar keep pointing to further gains in the short-term horizon. That said, if monthly tops around 92.85 are cleared, then the door should open to a quick move to 93.00 ahead of the so far 2021 highs near 93.50 recorded in late March.

In the meantime, and looking at the broader scenario, the constructive stance on the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.37.

DXY daily chart