US Dollar Index Price Analysis: Further upside in store above 101.30

• DXY looks offered around 102.40 on Thursday.
• The 4-monht line near 101.30 underpins the upside.

DXY keeps the weekly choppiness well and sound around 102.40 on Thursday.

Considering the ongoing price action, further consolidation should not be ruled out, while occasional bullish attempts appear limited by the weekly highs in the 102.80/85 band. A Fibo level (of the mid May-late May sell-off) at 102.71 also underpins this region.

As long as the 3-month line around 101.20 holds the downside, the near-term outlook for the index should remain constructive.

Looking at the longer run, the outlook for the dollar is seen bullish while above the 200-day SMA at 97.18.

DXY daily chart