USD Breaks Wedge Resistance. DXY May Threaten its 2022 High

The US Dollar DXY Index pierced above Falling Wedge resistance on Friday, positioning itself for a breakout. If prices surmount the 20-day Simple Moving Average, a run higher to the 2022 swing high at 109.29 may be on the cards. MACD is on course to make a bullish cross above its centerline on the 8-hour chart, which could bolster sentiment. However, a failed breakout would likely see prices return to support around 105.5.