US Dollar Index Price Analysis: A test of 92.70 (and below) looks likely
|- DXY resumes the downside below the 93.00 mark.
- Extra losses are forecasted if 92.70 is cleared.
The index is resuming the downside following Tuesday’s bullish attempt. DXY returns to the sub-93.00 area and opens the door to extra losses in the short-term.
The continuation of the downtrend should initially expose 92.70 (low September 10). A deeper pullback carries the potential to test a Fibo level at 91.92 ahead of the 2020 low at 91.75 (September 1).
The negative outlook in DXY is seen unchanged while below the 200-day SMA, today at 97.22.
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.