USD Index Price Analysis: Initial barrier appears around 102.80

• DXY comes under pressure following recent tops near 102.80.
• The surpass of 102.80 exposes a move to the April high at 103.05.

DXY comes under renewed downside pressure and revisits the low-102.00s amidst the debate between risk appetite trends and debt ceiling unease.

The continuation of the bearish move, however, appears not favoured for the time being. That said, the resumption of the uptrend is expected to clear the weekly high at 102.80 (April 10) to allow for a potential challenge of the April top at 103.05 (April 3).

On the downside, there is a formidable contention around the 101.00 neighbourhood for the time being.

Looking at the broader picture, while below the 200-day SMA, today at 105.81, the outlook for the index is expected to remain negative.

DXY daily chart