USD Index Price Analysis: Further range bound ahead of potential losses?
|- DXY navigates within the recent side-lined trading below 102.00.
- Further losses could put the 2023 low back on the radar.
DXY extends the move higher and revisits the mid-101.00s following an earlier failed attempt to retake the 102.00 yardstick on Monday.
The recent choppy performance in the index seems to have now refocused back on the downside. Against that, DXY could cling to this consolidative theme ahead of a probable drop to the so far 2023 lows near 100.80 (April 14) ahead of the psychological support at the 100.00 mark.
Looking at the broader picture, while below the 200-day SMA, today at 106.18, the outlook for the index is expected to remain negative.
DXY daily chart
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