US Dollar Index Price Analysis: A bull run to 2021 highs is on the cards

• DXY hovers around the 93.00 zone amidst a cautious note.
• The resumption of the bullish bias could see YTD highs re-tested.

DXY trades within a narrow range near the 93.00 yardstick ahead of the speech by Chief Powell at Jackson Hole.

If the buying impulse gathers extra steam, then there is scope for another visit to the so far 2021 highs in the 93.70 zone (August 20). Further north, a move to the 94.00 mark should start emerging on the horizon.

In the meantime, and looking at the broader scenario, the positive stance on the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.32.

DXY daily chart