USD Index Price Analysis Further losses exposes a drop to the 2023 low

  • DXY gathers further downside traction and drops to 101.20.
  • Extra decline now targets the 2023 low near 100.80.

DXY loses ground for the third session in a row and slips back to the area of 2-month lows around 101.20 on Thursday.

The loss of the 101.00 support could accelerate losses to the 2023 low at 100.81(February 2) in the relatively short-term horizon.

Looking at the broader picture, while below the 200-day SMA, today at 106.39, the outlook for the index is expected to remain negative.

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