• DXY climbs to new 2023 peaks north of 106.00 on Tuesday.
• Further upside looks favoured while above the 200-day SMA.

The upside momentum in DXY remains well and sound and lifts the index to new yearly peaks near 106.20 on Tuesday.

In light of the ongoing price action, extra gains appear likely for the time being. Further up now comes the weekly high at 107.19 (November 30, 2022) prior to another weekly peak at 107.99 (November 21 2022).

While above the key 200-day SMA, today at 103.06, the outlook for the index is expected to remain constructive.

DXY daily chart