US Dollar Index Price Analysis: Next on the upside comes 96.50

• DXY regains composure and advances above 96.00.
• The next target of note is seen at the 96.50 region.

DXY manages to regain the smile and reclaim the 96.00 barrier and above at the beginning of the week.

In case the buying pressure regains conviction, then the next hurdle of relevance should come at the so far YTD high at 96.46 (January 4) ahead of December’s high at 96.90 (December 15).

In the meantime, while above the 4-month support line (off September’s low) around 95.00, further gains in DXY are likely. Looking at the broader picture, the longer-term positive stance remains unchanged above the 200-day SMA at 93.07.

DXY daily chart