• DXY corrects lower and revisits the 100.30 region on Wednesday.
• Occasional bearish moves should be deemed as buying chances.

DXY sheds some ground following fresh cycle peaks past the 101.00 hurdle on Wednesday.

Price action around the index continues to suggest further upside in the near/medium terms. That said, if the YTD high at 101.03 is surpassed, then there are no resistance levels of significance until the 2020 peak at 102.99 recorded on March 20.

The current bullish stance in the index remains supported by the 7-month line near 96.50, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 95.37.

DXY daily chart