USD Index Price Analysis: Initial resistance emerges at 103.53

• DXY attempts a mild recovery and retakes 103.00.
• Next on the upside comes the weekly high around 103.50.

DXY kicks in the new trading with on a positive foot and regains the 103.00 hurdle and beyond on Monday.

The index manages to pick up upside traction and looks to extend the rebound north of 103.00 the figure on Monday. Immediately to the upside now emerges the weekly high at 103.54 (June 30). The breakout of this level could open the door to a move to the May high at 104.69 (May 31).                                                                                       

Looking at the broader picture, while below the 200-day SMA at 104.84 the outlook for the index is expected to remain negative.

DXY daily chart