US Dollar Index Price Analysis: Further gains could see the 2022 retested

• DXY alternates gains with losses well north of 98.00.
• The dollar remains underpinned by the 97.80 region.

DXY looks to add to Thursday’s advance with the immediate target at the round level at 99.00 on Friday.

In light of the recent price action, further gains remain likely for the time being. That said, the next hurdle aligns at the 99.97 level (May 25 2020 high) closely followed by the psychological 100.00 mark.

The current bullish stance in the index remains supported by the 5-month line, today near 95.80, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.30.

DXY daily chart