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  • DXY is up for the fifth consecutive day, trading at its highest since October 2019.
  • Targets on the way up are seen near the 99.00 figure and 99.40 price level.

DXY daily chart

The US dollar index (DXY) is spiking to the upside at fresh 2020 highs while trading above its main simple moving averages (SMAs). 

DXY four-hour chart

As the index is having a strong impulse to the upside, the buyers are likely to keep the pressure on and target the 99.00 figure on the way up. Further up lie the 99.40 resistance if the market gathers enough momentum. Retracements down could find support near the 98.50 and 98.20 price levels. 

Additional key levels