USD Index Price Analysis: Next on the upside comes 103.50

• DXY comes under some selling pressure and tests 102.90.
• Extra gains meet the next target of note around 103.50.

DXY comes under some moderated selling pressure after three consecutive daily advances on Thursday.

While further consolidation seems probable in the very near term, the continuation of the uptrend in place since mid-June could challenge the weekly high at 103.54 (June 30) prior to the May high at 104.69 (May 31), which appears reinforced by the 200-day SMA.

Looking at the broader picture, while below the 200-day SMA at 104.70, the outlook for the index is expected to remain negative.

DXY daily chart