US Dollar Index Price Analysis: Next on the downside comes 100.90
|- DXY accelerates losses and breaches the 102.00 support.
- The 55-day SMA at 100.90 now emerges as the next target.
DXY comes under extra selling pressure and breaks below the key support at the 102.00 yardstick to print new 4-week lows.
The index remains under scrutiny and therefore extra losses should not be ruled out for the time being. Against that, a deeper decline could see the 55-day SMA, today at 100.89, revisited in the not-so-distant-future.
Looking at the broader picture, the current bullish stance in the index remains supported by the 3-month line around 100.40, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 96.64.
DXY daily chart
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