US Dollar Index Price Analysis: The 98.00 level is just around the corner

• DXY clinches new cycle peaks past 97.80 midweek.
• The round level at 98.00 comes next for USD bulls.

DXY advances for the third session in a row and records new YTD peaks in the 97.80/85 band on Wednesday.

Bets for the continuation of the upside remain on the rise in the near term, with the immediate hurdle now at the round level at 98.00. Further up from here there are no relevant barriers of note until the 99.97 level (May 25 2020 high).

The short-term constructive stance remains supported by the 5-month line, today near 95.60, while the outlook for the dollar is seen as positive above the 200-day SMA at 94.00 in the longer run.

DXY daily chart