US Dollar Index Price Analysis: Extra gains appears on the table near term

• DXY clinches new multi-day highs past the 110.00 barrier.
• Further advance could see the YTD top revisited near term.

DXY adds to Thursday’s gains and keeps the trade in the upper end of the weekly range near the 110.00 neighbourhood.

Further short-term gains look likely in the index while above the 7-month support line near 106.40. That said, the surpass of the weekly high at 110.26 (September 16) should put the index en route to a probable visit to the YTD top at 110.78 (September 7).

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 101.67.

DXY daily chart