USD Index Price Analysis: Extra decline could see the 101.30 zone retested

Price action around the index looks unconvincing on Tuesday
Persistent weakness should open the door to a drop to 101.30.

DXY trades in an inconclusive tone in the low-103.00s on Tuesday.

A drop below the so far January low at 102.94 (January 9) could prompt the May 2022 low around 101.30 (May 30) to re-emerge on the horizon ahead of the psychological 100.00 level.

In the meantime, while below the 200-day SMA at 106.35 the outlook for the index should remain tilted to the negative side.

DXY daily chart

Jan 10, 2023

US Dollar vulnerable to further weakness in the near-term – MUFG

The US Dollar Index hit an intra-day low yesterday of 102.94. In the view of economists at MUFG Bank, the greenback is prone to suffer further losses

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Jan 10, 2023

EUR/GBP to enjoy a deeper recovery in the long-term sideways range – Credit Suisse

EUR/GBP is expected to steadily strengthen within its long-term sideways range, in the view of economists at Credit Suisse. Resistance is located at 0

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