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- USD Index Price Analysis: Decent support emerges near 103.40
USD Index Price Analysis: Decent support emerges near 103.40
- DXY seems to be facing some downside pressure below 104.00.
- In case sellers push harder, the June low could become a target.
DXY regains downside traction and breaches the 104.00 support to print daily lows near 103.80 on Thursday.
In case the index breaks below the weekly consolidation, a potential test of the June low of 103.38 (June 2) could emerge on the horizon prior to the transitory 100-day SMA at 102.98.
Looking at the broader picture, while below the 200-day SMA at 105.48 the outlook for the index is expected to remain negative.
DXY daily chart
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