US Dollar Index Price Analysis: A decline to 102.30 remains in store
|- DXY remains under pressure below the 103.00 mark.
- Further downside could see the 102.30 region revisited.
DXY maintains its bearish tone in the sub-103.00 region at the end of the week.
The index remains under scrutiny and therefore extra losses should not be ruled out for the time being. Against that, a probable retracement to the May low at 102.35 (May 5 low) remains on the cards in the not-so-distant future.
Looking at the broader picture, however, the current bullish stance in the index remains supported by the 3-month line around 100.30, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 96.54.
DXY daily chart
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