USD Index Price Analysis: A deeper decline could extend to 104.40
- DXY keeps the bearish performance unchanged on Wednesday.
- Extra retracement could force the index to revisit the 104.40 region.
The continuation of the sell-off drags DXY to the area of two-week lows around 105.60 on Wednesday.
In case bears push harder, then index could then slip back to the weekly low of 104.42 (September 11), which appears reinforced by the proximity of the interim 55-day SMA, today at 104.31.
In the meantime, while above the key 200-day SMA, today at 103.18, the outlook for the index is expected to remain constructive.
DXY daily chart
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