US Dollar Index Price Analysis: A break below 100.00 appears on the cards

• DXY is losing further momentum and challenges the 100.00 barrier.
• Immediately to the downside emerges the 99.90 region.

DXY is trading on the defensive on Tuesday. In fact, the index has eroded Monday’s gains and is facing moderate selling pressure in the proximity of the 100.00 mark.

If sellers regain the upper hand, then the next target of relevance emerges at the February’s peak at 99.91. If cleared, a dip to late-March lows near 98.30 should return to the radar ahead of the key 200-day SMA, today at 98.11.

So far, the constructive stance on the buck remains unchanged as long as the 200-day SMA holds the downside.

DXY daily chart