• DXY fades part of the recent 2-day advance beyond 102.00.
• Further selling could put the dollar en route to the 2023 top near 100.80.

DXY comes under pressure and gives away part of the recent move to the area beyond 102.00 the figure.

Despite the ongoing rebound, the index is expected to remain under pressure for the time being. Against that, losses could accelerate and revisit the 2023 low at 100.78 (April 14). Once this level is cleared, the index could attempt a move to the psychological 100.00 mark.

South from here aligns the late-March 2022 lows near 97.70.

Looking at the broader picture, while below the 200-day SMA, today at 106.30, the outlook for the index is expected to remain negative.

DXY daily chart