US Dollar Index Price Analysis: The surpass of 107.00 exposes 107.42

• DXY extends the recovery and flirts with 107.00.
• Further up comes the weekly high around 107.40.

DXY extends the rebound from recent lows and trades closer to the key barrier at the 107.00 zone on Tuesday.

The continuation of the upside momentum could extend to the August high near the 107.00 yardstick (August 5). Once cleared, the index could attempt to confront the post-FOMC meeting high at 107.42 (July 27).

Looking at the broader scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.16.

DXY daily chart