US Dollar Index Price Analysis: Further pullbacks could visit the 200-day SMA
|- DXY stays under pressure below the 92.00 yardstick.
- There is scope for a deeper move to the 91.50 area.
DXY remains unable to gather serious upside traction so far on Wednesday and remains on the defensive in the sub-92.00 zone.
The better tone in the risk-associated universe as investors digested the FOMC event coupled with muted activity in US yields sponsored a leg lower in the dollar.
If the selling impulse picks up further pace, then another visit to the critical 200-day SMA, today at 91.51, should not be ruled out.
In the meantime, and looking at the broader scenario, a sustainable breakout of the 200-day SMA, today at 91.50, should shift the outlook for the buck to positive.
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.