US Dollar Index Price Analysis: Next stop on the downside is at 93.00
|- DXY rapidly loses momentum and drops to multi-day lows.
- The next support of note comes in around the 93.00 yardstick.
Following another failure at the tough 6-month resistance line in the 93.80/90 band, DXY sparks a correction lower to the 93.20 region so far, or new 4-day lows.
A deeper pullback now threatens to drag the dollar to the area of recent contention in the 93.00 neighbourhood. Further south emerges the mid-September lows in the 92.70 region.
While below the 200-day SMA, today at 96.82, the negative view on the dollar is expected to persist.
DXY daily chart
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