USD Index Price Analysis: Extra gains could challenge the 2022 peak

• DXY meets some decent hurdle around the 113.60 area.
• Further north emerges the YTD high near 114.80.

DXY’s multi-session strong advance has faltered around the 113.60 region on Wednesday.

If bulls push harder and the index surpasses 114.00, then the next target of note should turn up at the 2022 high at 114.78 (September 28) prior to the round level at 115.00.

The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 107.80.

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 103.10.

DXY daily chart