- DXY losses the 93.00 support amidst renewed and strong selling pressure.
- The October’s low in the mid-92.00s emerges as the next support of note.
DXY intensifies the downside and flirts with the key 6-month support line in the 92.90/80 region on Thursday.
Increasing market optimism on a Biden win is bolstering the sentiment in the risk complex and puts the greenback under extra pressure. That said, a deeper pullback in DXY could re-test the October lows in the 92.50 area in the short-term horizon.
As long as the index trades below the 200-day SMA, today at 96.53, the negative view is forecasted to persist.
DXY daily chart
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