USD Index Price Analysis: Extra advance focuses on 103.00
|- DXY keeps the recovery well in place and approaches 102.70.
- Extra gains now target the 103.00 zone in the near term
DXY manages well to reverse the initial pessimism and regain the smile in the vicinitry of the 102.70 region on Tuesday.
Immediately to the upside, the index faces the next hurdle at the 103.00 round level, which appears reinforced by the proximity of the transitory 100-day SMA. The index could see its downside pressure mitigated once this area is cleared on a convincing fashion.
Looking at the broader picture, while below the 200-day SMA at 105.21 the outlook for the index is expected to remain negative.
DXY daily chart
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