US Dollar Index Price Analysis: Extra downside looks likely
|- The index remains well under pressure near 90.00.
- Losses are seen accelerating on a breach of 90.00.
DXY fades Monday’s modest uptick and keeps hovering around the psychological support near 90.00 for the time being.
A decent breakdown of the 90.00 mark should allow for a move to the February’s low at 89.68. A deeper pullback is expected to put the YTD lows at 89.20 (January 6) back on the radar.
In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.88, the outlook for the buck is forecast to remain negative.
DXY daily chart
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