US Dollar Index Price Analysis: Door open for a move to 92.50
|- DXY meets extra downside pressure and drops to 93.00.
- The continuation of the bearish move should target the 92.50 area.
DXY extends the leg lower following another failure to clinch the 94.00 region, or monthly tops, earlier in the week.
The inability of the index to surpass this area of resistance motivated sellers to step in once again, therefore shifting the focus of attention back to the YTD lows in the mid-92.00s.
The bearish view on the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.83.
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.