The Clarets left back missed the goal-less draw at Arsenal after a knock to his foot in training, with Erik Pieters filling in admirably against Bukayo Saka.
However, Dyche could have both available to take on the Hornets on Saturday, February 5th, in what could be a pivotal game.
Asked whether Taylor would recover, Dyche said: “I would hope so but you never know, so we will see how it goes.
“He got a knock on his foot in a training game. We will see how that settles down.”
Taylor has started 16 of Burnley’s 18 league games so far this season.
1. Loftus-Cheek on Toffees radar
Everton are eyeing a move for Chelsea midfielder Ruben Loftus-Cheek in this ongoing January transfer window. (Daily Mail) (Photo by Catherine Ivill/Getty Images)
2. Villa have Bentancur bid rejected
Juventus have rebuffed Aston Villa in their £16.6 million approach to sign Rodrigo Bentancur in January. (Gianluca Di Marzio) (Photo by MARCO BERTORELLO/AFP via Getty Images)
3. Sterling in new deal talks
Manchester City are reportedly set to resume talks with Raheem Sterling over a new contract. (ESPN) (Photo by Julian Finney/Getty Images)
4. Toon consider Calvert-Lewin
Everton are braced for an approach for Dominic Calvert-Lewin, who has been part of transfer discussions at Newcastle United in the last week. (Telegraph) (Photo by Chris Brunskill/Getty Images)