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.
5. Albion plot Rodon swoop
Joe Rodon could still leave Tottenham Hotspur before Monday’s deadline. Brighton are considering a transfer if Dan Burn joins Newcastle United. (Telegraph) (Photo by Alex Davidson/Getty Images) | Getty Images
6. Clarets eye Seferovic
Burnley are interested in the signing of Benfica centre-forward Haris Seferovic. (Jornal de Notícias) (Photo by PATRICIA DE MELO MOREIRA/AFP via Getty Images) | AFP via Getty Images
7. Leeds lead Ramsay race
Leeds United are now in pole position to sign Aberdeen defender Calvin Ramsay in January. (Gianluca Di Marzio) (Photo by Stu Forster/Getty Images) | Getty Images
8. Magpies close in on double deal
Newcastle United are closing in on a double signing before the close of the January transfer window with deals for Arsenal striker Eddie Nketiah and Brighton defender Dan Burn likely to bring an end to their recruitment this month. (Telegraph) (Photo by David Price/Arsenal FC via Getty Images) | Arsenal FC via Getty Images