US Dollar Index Price Analysis: Renewed upside could see 107.00 retested

• DXY quickly left behind the YTD peaks and broke below the 106.00 mark.
• Further upside now targets the round level at 107.00.

DXY picks up extra pace and surpasses the 106.00 yardstick to print new cycle tops on Tuesday.

Further upside in the dollar remains in store in the short-term horizon. Against that, the index could attempt a visit to the round level at 107.00 before the December 2002 high at 107.31.

As long as the 5-month line near 102.50 holds the downside, the near-term outlook for the index should remain constructive.

The broader bullish view remains in place while above the 200-day SMA at 98.25.

DXY daily chart