USD Index Price Analysis: A drop below 101.00 remains likely

• DXY regains some buying interest and attempt a decent bounce.
• Next on the downside appears the 101.00 region ahead of YTD lows.

DXY reverses three consecutive sessions with losses and rebound from daily lows near 101.20 on Tuesday.

The recent choppy performance in the index seems to have now refocused back on the downside. Against that, DXY could cling to this consolidative theme ahead of a probable drop to the 101.00 zone. The loss of the latter could expose a move to the so far 2023 lows near 100.80 (April 14).

Looking at the broader picture, while below the 200-day SMA, today at 106.15, the outlook for the index is expected to remain negative.

DXY daily chart