• DXY adds to Wednesday’s advance and flirts with 99.00.
• Next on the upside aligns the weekly top at 99.29 (March 14).

DXY extends the upside momentum and trades at shouting distance from the key 99.00 barrier on Thursday.

Further advance in the index now looks increasingly likely and a break above the 99.00 zone should put a test of the weekly high at 99.29 (March 14) back on the investors’ radar prior to the 2022 peak at 99.41 (March 7).

The current bullish stance in the index remains supported by the 6-month line just above 96.00, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.67.

DXY daily chart