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13 Aug 2020
US Dollar Index Price Analysis: Door open for a move to 92.50
- DXY meets extra downside pressure and drops to 93.00.
- The continuation of the bearish move should target the 92.50 area.
DXY extends the leg lower following another failure to clinch the 94.00 region, or monthly tops, earlier in the week.
The inability of the index to surpass this area of resistance motivated sellers to step in once again, therefore shifting the focus of attention back to the YTD lows in the mid-92.00s.
The bearish view on the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.83.
DXY daily chart
