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- USD Index Price Analysis: Another test of 100.00 now looks likely
USD Index Price Analysis: Another test of 100.00 now looks likely
- DXY keeps the bearish note unchanged below 101.00.
- A deeper pullback could revisit the key 100.00 zone.
DXY drops for the third straight session and breaches the key support at 101.00 the figure to print new multi-day lows.
The continuation of the downward bias could initially drag the index to the 100.00 neighbourhood. The loss of the latter should leave the dollar vulnerable to a potential test of the 2023 low near 99.50 (July 14).
Looking at the broader picture, while below the 200-day SMA at 103.83 the outlook for the index is expected to remain negative.
DXY daily chart
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