USD Index Price Analysis: The mid-103.00s hold the downside… for now
|- DXY remains under pressure and adds to Thursday’s losses.
- There is decent contention around the March lows near 103.50.
DXY keeps the bearish tone well and sound in the second half of the week.
Further loss of momentum could prompt the dollar to revisit the area of recent lows near 103.50, which appears propped up by the temporary 55-day SMA. South from here, the index could challenge the weekly low at 102.58 (February 14).
Looking at the broader picture, while below the 200-day SMA (106.64), the outlook for the greenback is expected to remain negative.
DXY daily chart
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