USD Index Price Analysis: Temporary support comes near 102.90

• DXY keeps the bearish note unchanged in the 103.50/40 region.
• Further decline could extend to the 100-day SMA near 102.90.

DXY accelerates the decline south of the 104.00 barrier and records new multi-session lows near 103.40 on Friday.                                                                                             

Considering the current price action, extra pullbacks should not be ruled out. That said, the continuation of the decline could face the next support at the 100-day SMA at 103.91 ahead of another the interim 55-day SMA at 102.41.

A deeper drop to the May lows near 101.00 is not favoured for the time being.

Looking at the broader picture, while below the 200-day SMA at 105.57, the outlook for the index is expected to remain negative.

DXY daily chart