US Dollar Index Price Analysis: Room for a move to the 2021 high near 97.00

• DXY extends the weekly rebound further north of the 96.00 mark.
• Further upside could well see the 2021 high at 96.93 retested.

DXY remains firm and advances to fresh multi-day peaks near 96.50 on turnaround Tuesday.

If bulls remain in control, then the index could challenge the 2021peak at 96.93 (November 24) ahead of the round level at 97.00 and then 97.80 (high June 30 2020).

In the meantime, while above the 4-month support line (off September’s low) around 94.90, the constructive view in DXY should remain unchanged. In addition, the broader positive stance stays underpinned by the 200-day SMA at 93.01.

DXY daily chart