US Dollar Index Price Analysis: Extra gains remain on the table

• DXY briefly surpassed 94.50 to clinch new 2021 highs.
• Further up comes the 94.74/76 region.

DXY adds to Monday’s gains and manages to re-visit the 94.50 region on turnaround Tuesday.

The ongoing price action allows the index to extend the leg lower to the area above 94.50 in the short-term horizon. That said, the next target is seen at the September 2020 high at 94.74 followed by the 200-week SMA, today at 94.76. Further north should come the round level at 95.00, also in the not-so-distant future.

Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 91.72.

DXY daily chart