US Dollar Index Price Analysis: A move to 90.00 remains on the cards
|- DXY drops and records new yearly lows just above 91.00.
- Bets for a deeper pullback remain well on the rise.
The bearish momentum surrounding the greenback remains unchanged in spite of the ongoing rebound from earlier 30-month lows around 91.10.
The dollar’s selling pressure is expected to mitigate somewhat above 92.80 (high November 23), although further losses keep targeting the psychological support in the 90.00 yardstick ahead of the April 2018 lows near 89.20.
In the meantime, as long as DXY trades below the 200-day SMA, today at 95.91, the offered stance is forecast to persist.
DXY daily chart
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