Home US Dollar Index Price Analysis: A test of 92.70 (and below) looks likely

US Dollar Index Price Analysis: A test of 92.70 (and below) looks likely

Published date: 16 Sep. 2020 | 13:02

Updated: 16 Sep. 2020 | 13:02

DXY resumes the downside below the 93.00 mark.
Extra losses are forecasted if 92.70 is cleared.

The index is resuming the downside following Tuesday’s bullish attempt. DXY returns to the sub-93.00 area and opens the door to extra losses in the short-term.

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 97.22.

DXY daily chart

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