US Dollar Index Price Analysis: A decline to 102.30 remains in store

• DXY remains under pressure below the 103.00 mark.
• Further downside could see the 102.30 region revisited.

DXY keeps the bearish note so far unchanged in the sub-103.00 region at the end of the week.

The index remains under scrutiny and therefore extra losses should not be ruled out for the time being. Against that, a probable retracement to the May low at 102.35 (May 5 low) remains on the cards in the not-so-distant future.

Looking at the broader picture, the current bullish stance in the index remains supported by the 3-month line around 100.30, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 96.54.

DXY daily chart