USD Index Price Analysis: Losses seen accelerating below the 2023 low

• DXY navigates a tight range near the 100.00 mark.
• Another visit to the 2023 low remains in store near term.

DXY regains some composure and flirts with the psychological 100.00 zone on Monday.

The continuation of the decline of the dollar looks the most likely scenario for the time being. Against that, the breach of the current 2023 low at 99.57 (July 14) could spark a deeper pullback to the weekly low of 97.68 (March 30 2022).

Looking at the broader picture, while below the 200-day SMA at 104.31, the outlook for the index is expected to remain negative.

DXY daily chart