USD Index Price Analysis: The 102.00 region holds the downside… for now
|- DXY remains under pressure, albeit off earlier lows in the sub-102.00 zone.
- Below the 102.00 region, the index could retest the 2023 low.
DXY retreats for the sixth consecutive session and keeps navigating the multi-week zone in the low-102.00s.
The bearish mood appears unabated for the time being. Against that, the breach of the March low at 101.91 (March 23) should put a potential test of the 2023 low near 100.82 (February 2) back on the investors’ radar.
Looking at the broader picture, while below the 200-day SMA, today at 106.60, the outlook for the index is expected to remain negative.
DXY daily chart
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