US Dollar Index Price Analysis: Bets for a visit to 2020 lows on the rise

  • DXY resumed the (sharp) downside following Powell’s speech.
  • USD-bears are seen re-visiting yearly lows in the vicinity of 92.00.

DXY is navigating the area of multi-day lows and is gradually approaching the YTD lows in the 92.15/10 band recorded in on August 15.

The continuation of the downtrend carries the potential to challenge the 92.00 neighbourhood ahead of an interim support at the Fibo level at 91.92 and May 2018 low at 91.80.

The offered stance in the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.54.

DXY weekly chart

 

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