Home US Dollar Index Price Analysis: A drop to 90.00 is not ruled out
FXStreet News

US Dollar Index Price Analysis: A drop to 90.00 is not ruled out

  • DXY struggles to gather serious upside traction.
  • Extra gains should face initial resistance near 91.50.

The index fails to sustain a serious bullish attempt, as the broad stance on the dollar remains tilted to the bearish side.

That said, bouts of buying pressure are expected to meet interim hurdle in the vicinity of 91.50, where sits the 9-month (resistance) line ahead of the Fibo level at 91.92. Above this region, the downside pressure is predicted to mitigate somewhat.

In the meantime, as long as DXY trades below the 200-day SMA, today at 95.77, the negative view is forecast to prevail.

DXY daily chart

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.