USD Index Price Analysis: Downside alleviated above 103.15/20

• DXY extends the bounce and reclaims the 102.00 mark and above.
• Next on the upside appears the 103.15/20 band.

DXY adds to Thursday’s gains and surpasses the key barrier at 102.00 the figure at the end of the week.

In the meantime, the index remains broadly side-lined and with a downwards bias. That said, further upside should clear the 103.15/20 band, where the interim 55- and 100-day SMAs coincide to see the bearish perspective somewhat mitigated.

Looking at the broader picture, while below the 200-day SMA, today at 106.07, the outlook for the index is expected to remain negative.

DXY daily chart