• DXY adds to Friday’s gains in the 98.30 region on Monday.
• Bulls initially target the weekly top at 99.29 (March 14).

DXY picks up some traction and advances to the 98.40/45 band at the beginning of the week.

The continuation of the bid tone in the index carries the potential to extend to the next target of note at the 99.00 neighbourhood ahead of the weekly high at 99.29 (March 14), all ahead of the 2022 peak at 99.41 (March 7).

The current bullish stance in the index remains supported by the 6-month line just below 96.00, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.55.

DXY daily chart