USD Index Price Analysis: Consolidation likely ahead of further gains

• DXY picks up strong pace and surpasses the 105.00 hurdle.
• Next on the upside comes the 2023 high near 105.30.

DXY resumes the weekly upside and reclaims the 105.00 mark and above, rapidly leaving behind Wednesday’s marked pullback.

Immediately to the upside for the dollar appears the February peak at 105.35 (February 27). The surpass of this level should pave the way for the continuation of the multi-week uptrend to challenge the 2023 top at 105.63 (January 6).

In the longer run, while below the 200-day SMA at 106.52, the outlook for the index remains negative.

DXY daily chart