USD Index Price Analysis: Extra gains favoured above 103.16

• DXY leaves behind two sessions in a row with losses.
• Immediately to the upside emerges the weekly top at 103.13.

DXY manages to gather some fresh buying interest and advances with firm pace after two consecutive daily pullbacks on Wednesday.                                                                  

The index thus manages to regain some upside traction and now faces the next interim hurdle at the 100-day SMA at 103.04. The surpass of this level should open the door to a move to the weekly top of 103.16 (June 23).

Above the latter, the index could see its downward bias mitigate somewhat.

Looking at the broader picture, while below the 200-day SMA at 104.99 the outlook for the index is expected to remain negative.

DXY daily chart