US Dollar Index Price Analysis: A move sub-90.00 gains traction
|- The index fails to keep daily gains near 90.70.
- Losses are seen accelerating on a breach of 90.00.
DXY now attempts some consolidation following the earlier move to the 90.65/70 band, where some resistance seems to have turned up.
A decent breakdown of the 90.00 mark should allow for a move to the February’s low at 89.68 ahead of he YTD lows at 89.20 (January 6).
In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.87, the outlook for the buck is forecast to remain negative.
DXY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.