USD Index Price Analysis: Another drop below 102.00 should not be ruled out
|- DXY alternates gains with losses around the 103.00 region.
- The resumption of the selling bias could see the sub-102.00 area retested.
DXY trades within an inconclusive range in the 103.00 neighbourhood at the beginning of the week.
If bulls fail to regain control of the sentiment – ideally in the very near term - the index could lose the grip and challenge recent lows in the sub-102.00 zone (March 23). Extra losses from here could put a visit to the 2023 low around 100.80 (February 2) back on the investors’ radar
Looking at the broader picture, while below the 200-day SMA, today at 106.59, the outlook for the index is expected to remain negative.
DXY daily chart
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