US Dollar Index Price Analysis: Extra losses seen below 93.20
|- DXY corrects lower from Friday’s 2021 peaks.
- Initial support comes in at the 93.20 region.
DXY accelerates losses and meets initial contention around former tops near 93.20.
A breach of this area could expose further weakness in the very near term, with the next relevant support expected to emerge in the mid-92.00s.
In the meantime, and looking at the broader scenario, the positive stance on the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.31.
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.