USD Index Price Analysis: Further upside targets the 102.80 zone

• DXY extends the breakout of the 102.00 level on Tuesday.
• The continuation of the bounce could see 102.80 revisited.

DXY maintains the recovery well in place for the fourth consecutive session and looks to consolidate the recent breakout of the 102.00 hurdle on Tuesday.

If the index breaks above the current range bound trade, it could then confront the weekly high at 102.80 (April 10) prior to the April peak at 103.05 (April 3), an area still propped up by the provisional 55- and 100-day SMAs.

Looking at the broader picture, while below the 200-day SMA, today at 106.03, the outlook for the index is expected to remain negative.

DXY daily chart