US Dollar Index Price Analysis: Door open to further retracements

• DXY keeps the bearish note unchanged so far this week.
• Odds for a move to the 200-day SMA near 98.50 stay on the rise.

DXY is extending the weekly leg lower after recently breaking below the 100.00 mark.

Interim support emerged at weekly lows in the 99.00 zone (Wednesday). If sellers clear this level then a potential move to the monthly low at 98.57 should come to the fore in the very near-term.

A deeper pullback is expected to put the key 200-day SMA at 98.47 to the test.

DXY daily chart