USD Index Price Analysis: Extra consolidation appears likely

• DXY comes under extra selling pressure and tests 101.50.
• Next on the downside emerges the 101.00 neighbourhood.

DXY corrects further south and revisits the 101.50 region on Wednesday.

The continuation of the ongoing decline faces the next support of note at the weekly low at 101.01 (April 26). The loss of this region could pave the way for a deeper move to the 2023 lows near 100.80/70.

Looking at the broader picture, while below the 200-day SMA, today at 106.00, the outlook for the index is expected to remain negative.

DXY daily chart