US Dollar Index Price Analysis: Rising bets for a move above 98.00

• DXY leaves behind Wednesday’s downtick and flirts with 97.70.
• Next on the upside comes the round level at 98.00.

DXY resumes the weekly uptrend and revisits the 97.70 area after Wednesday’s small losses.

There is room for the continuation of the upside in the short-term horizon, with the immediate hurdle now at the 98.00 yardstick. Further up from here there are no relevant barriers of note until the 99.97 level (May 25 2020 high).

The short-term bullish stance remains supported by the 5-month line, today near 95.60, while the longer-term outlook for the dollar is seen as constructive above the 200-day SMA at 94.04.

DXY daily chart