USD Index Price Analysis: Tough resistance remains near 103.60
|- DXY adds to Monday’s advance and retests the 103.60 zone.
- Extra gains from here target the key 200-day SMA near 105.70.
DXY extends Monday’s auspicious start of the week and challenges recent peaks in the 103.60/65 band on Tuesday.
In case bulls regain the upper hand, a convincing move past 103.60/65 could pave the way for a potential challenge of the key 200-day SMA, today at 105.74 prior to the 2023 high of 105.88 (March 8).
Looking at the broader picture, while below the 200-day SMA the outlook for the index is expected to remain negative.
DXY daily chart
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