Further weakness could revisit 100.00

• DXY extends the sell-off to the 100.15/10 band, new YTD lows.
• A test of the key 100.00 support looms closer.

Further downside bias drags DXY to new 2023 lows in the 100.15/10 band on Thursday.   

The continuation of the decline of the dollar looks the most likely scenario for the time being. Against that, the index now targets the psychological 100.00 yardstick ahead of the weekly low of 99.81 (April 21 2022).

Looking at the broader picture, while below the 200-day SMA at 104.44, the outlook for the index is expected to remain negative.

DXY daily chart