• DXY needs to consolidate the breakout of the 103.00 barrier.
• Further north emerges the 200-day SMA near 105.80.

DXY extends the march north for the third session in a row and clinches fresh 6-week highs near 103.20 on Thursday.

Further upside seems like the most probable scenario for the index so far. Against that, a sustained move further north of the 103.00 hurdle should alleviate the downside pressure and encourage DXY to set sail to the key 200-day SMA near 105.80 just ahead of the YTD peak at 105.88 (March 8).

The index is seen facing the next resistance level of significance not before the 2023 top of 105.79 (March 8).

Looking at the broader picture, while below the 200-day SMA today at 105.80, the outlook for the index is expected to remain negative.

DXY daily chart