• DXY keeps pushing higher and records new highs around 101.70.
• Further upside could see the 2020 high near 103.00 revisited.

DXY keeps the bid bias well and sound and reaches new cycle peaks past 101.70 on Monday.

The sharp rebound from the 99.80 region (April 21) carries the potential to extend further. Against that, the breakout of the so far 2022 high at 101.73 (April 25) on a convincing fashion could motivate the index to attempt a visit to the 2020 high at 102.99 (March 20).

The current bullish stance in the index remains supported by the 7-month line near 96.70, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 95.50.

DXY daily chart