US Dollar Index Price Analysis: Next support of note comes in at 91.00
|- DXY adds to the ongoing weakness well below the 92.00 level.
- Next on the downside emerges the 100-day SMA at 91.17.
The index easily broke below the 92.00 support and opened the door to further decline in the short-term horizon. It currently navigates the mid-91.00s, where also coincide the February peaks.
The continuation of the leg lower appears on the cards for the time being. That said, DXY faces a minor support at the 100-day SMA, today at 91.17 ahead of the more relevant contention area in the 91.00 neighbourhood.
A break above the 200-day SMA (92.82) should shift the outlook to constructive (from bearish) and allow for further gains.
DXY daily chart
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