US Dollar Index Price Analysis: Extra gains are expected to reach 101.00

• DXY fails once again at the key barrier in the mid-100.00s.
• A surpass of this area should put 101.00 back on the radar.

DXY is giving away some gains following Monday’s sharp advance, meeting once again a tough hurdle in the 100.50 area, where converge May tops and a Fibo retracement (of the 2017-2018 drop).

In the very near-term, a break above the 100.40/50 band is needed to allow for a potential move to the April’s peaks in the 101.00 area.

Further out, the 200-day SMA – today at 98.40 - is expected to hold the downside in the short-term horizon.

DXY daily chart