USD Index Price Analysis: Focus is now on 114.00 and above

• DXY adds to Thursday’s important advance and revisits 111.00.
• The continuation of the recovery should target 114.00.

DXY climbs to 3-day highs just above the 111.00 barrier at the end of the week.

Despite the dollar remains under pressure, the likelihood of further gains remains on the table while above the 8-month support line near 108.50. The proximity of the 100-day SMA also reinforces this area of contention. Against that, the next hurdle of relevance aligns at the October highs around 114.00.

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 104.07.

DXY daily chart