USD Index Price Analysis: Next on the upside comes 102.40
|- DXY extends the advance further north of 102.00.
- Further upside should target the monthly high at 102.40.
DXY adds to the weekly recovery past the 102.00 mark on Friday.
A more serious bullish attempt should clear the monthly high at 102.40 (May 2) to mitigate the downside pressure and allow for a potential advance to the provisional 55- and 100-day SMAs at 102.70 and 102.93, respectively.
On the downside, there is a formidable contention around the 101.00 neighbourhood for the time being.
Looking at the broader picture, while below the 200-day SMA, today at 105.84, the outlook for the index is expected to remain negative.
DXY daily chart
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