USD Index Price Analysis: Further losses target 103.00 and below
|- DXY accelerates its losses and approaches 103.00.
- Immediately to the downside comes the weekly low of 102.93.
DXY retreats for the third session in a row and trades at shouting distance from the key 103.00 support, or three-month lows.
In case bears push harder, the breakdown of the November low of 103.17 should leave the door open to further retracements in the short-term horizon. That said, the next support emerges at the weekly low of 102.93 (August 30) prior to the psychological 100.00 threshold.
In the meantime, while below the key 200-day SMA at 103.61, the outlook for the index is expected to remain bearish.
DXY daily chart
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