Home US Dollar Index Price Analysis: Next downside target is at the 91.30 area
FXStreet News

US Dollar Index Price Analysis: Next downside target is at the 91.30 area

  • DXY’s downside picks up pace below the 92.00 yardstick.
  • There is an interim support at the 50-day SMA at 91.57.

The leg lower in DXY gathers extra steam after breaking below the 92.00 mark on quite a convincing fashion, exposing at the same a deeper pullback.

That said, the 50-day SMA near 91.60 should offer interim contention ahead of the more relevant support area around 91.30, where sit weekly lows recorded in mid-March.

Below the 200-day SMA (92.26) the outlook for DXY is expected to return to the bearish side.

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.