• DXY seems to be facing some downside pressure below 104.00.
• In case sellers push harder, the June low could become a target.

DXY regains downside traction and breaches the 104.00 support to print daily lows near 103.80 on Thursday.                                                                                            

In case the index breaks below the weekly consolidation, a potential test of the June low of 103.38 (June 2) could emerge on the horizon prior to the transitory 100-day SMA at 102.98.

Looking at the broader picture, while below the 200-day SMA at 105.48 the outlook for the index is expected to remain negative.

DXY daily chart