USD Index Price Analysis: A drop to 100.00 should not be ruled out

• DXY retreats further and prints fresh 2023 lows near 100.80.
• A deeper retracement could see the key 100.00 mark revisited.

DXY attempts a mild bounce off earlier 2023 lows in the 100.80/75 band at the end of the week.

If bears remain in control, the index could accelerate losses and put the psychological 100.00 mark to the test in the relatively short-term horizon. The loss of this region exposes a potential move to the late-March 2022 lows near 97.70.

Looking at the broader picture, while below the 200-day SMA, today at 106.36, the outlook for the index is expected to remain negative.

DXY daily chart