US Dollar Index Price Analysis: Potential short-term top near 93.70
|- DXY adds to Thursday’s losses below the key 93.00 support.
- Immediately to the downside aligns the weekly low at 92.70.
The index has come under further downside pressure after being rejected once again from the 93.60/70 band on Thursday.
Further decline thus remains likely with the next target at the weekly lows at 92.70. A move further south of this level should put the 2020 low near 91.70 back on the investors’ radar.
The negative outlook in DXY is seen unchanged while below the 200-day SMA, today at 97.18.
DXY daily chart
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