USD Index Price Analysis: Immediately to the downside comes 103.40

• The index sheds further ground and retreats to multi-month lows.
• Further weakness could force the dollar to test the 103.40 zone.

DXY loses ground for the third session in a row and re-visits the 104.30 area on Friday.

The continuation of the selling pressure could motivate the dollar to accelerate losses and challenge the weekly low at 103.67 (June 27) ahead of another weekly low at 103.41 (June 16).

Below the 200-day SMA at 105.51, the dollar’s outlook should remain negative.

DXY daily chart