USD Index Price Analysis: Downside alleviated above 103.15/20
|- DXY extends the bounce and reclaims the 102.00 mark and above.
- Next on the upside appears the 103.15/20 band.
DXY adds to Thursday’s gains and surpasses the key barrier at 102.00 the figure at the end of the week.
In the meantime, the index remains broadly side-lined and with a downwards bias. That said, further upside should clear the 103.15/20 band, where the interim 55- and 100-day SMAs coincide to see the bearish perspective somewhat mitigated.
Looking at the broader picture, while below the 200-day SMA, today at 106.07, the outlook for the index is expected to remain negative.
DXY daily chart
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