US Dollar Index set to see further gains towards 99.50 – Commerzbank

The US Dollar Index (DXY) has broken higher through key resistance at 94.47/80. Analysts at Commerzbank expect the DXY to reach the 99.50 mark and see a chance to surge above the 100 level.

DXY has cleared major resistance at 94.47/80, targets 99.50

“The DXY has cleared major resistance at 94.47/80. It is underpinned by the 93.96 2021 uptrend, and while above here we will look for further US Dollar gains to the 97.73 Fibo resistance.”

“We are also above the 55-month ma and have pretty much based. The base measures to approx. 99.50.”

“There is scope longer term for the 100+ and even the 103.00/103.80 highs.”