DXY bulls await trading range breakout above 100.00

The US Dollar Index (DXY), which tracks the greenback against a basket of currencies, is building on the previous day's sold bounce from the post-CPI swing low. The index is prolonging its weekly uptrend for a fourth straight session, according to a price forecast.

Bulls are looking for a decisive move through the top of the current trading range. A break above 100.00 is seen as the key hurdle that would confirm the continuation of the short-term advance.

The setup leaves the near-term bias tilted upward as long as the index holds above the post-CPI swing low.