Another drop below 103.00 is not ruled out

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• DXY attempts a decent bounce and retakes 103.00 and beyond.
• Next on the downside appears the June low near 102.70.

Despite the ongoing rebound, DXY remains under pressure around the 103.00 region on Thursday.                                                                                             

In case the index breaches the monthly low near 103.00, it could then pave the way for another visit to the monthly low of 102.66 (June 14) prior to the interim 55-day SMA at 102.56.

Looking at the broader picture, while below the 200-day SMA at 105.32 the outlook for the index is expected to remain negative.

DXY daily chart