US Dollar Index Price Analysis: Extra losses await below 92.70

  • DXY resumes the downside and breaks below the 93.00 level.
  • Further south aligns last week’s low at 92.70.

The index is extending the bearish note below 93.00 the figure in the first half of the week.

The continuation of the downtrend should initially expose 92.70 (low September 10). A deeper pullback carries the potential to test a Fibo level at 91.92 ahead of the 2020 low at 91.75 (September 1).

The negative outlook in DXY is seen unchanged while below the 200-day SMA, today at 97.24.

DXY daily chart

 

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