US Dollar Index Technical Analysis: Recovery expected to extend to the 99.00 mark and beyond

• DXY is extending the consolidation in the 98.50 region on Wednesday.
• Immediately above emerges last week’s top near 99.10. A surpass of this level should pave the way for a potential visit to YTD highs around 99.40.
• As long as the 55-day SMA just below 98.00 holds the downside, the near term constructive bias is expected to stay unaltered.

DXY daily chart