The Dollar Index is testing 0.786 retracement of the correction which bounced off the short-term rising trendline. RSI back above 60 and no divergence indicates higher levels going into October and November.
Medium-term the Dollar Index is about to surpass the 1.618 projection – again – at 113.10 eyeing the 1.764 projection at 115.26.
RSI value currently at 81.10 is getting close to its all-time peak from March 2015 at 82.78. However, there is no divergence indicating higher levels on the Index going into the end of 2022 and into 2023, even it is hit by a larger correction.
If the current steep uptrend is to become as long as the low to high of the sideways market from 2015 to 2022 the Dollar Index could reach 118.75-120. Illustrated by the two vertical arrows.