US Dollar Index Price Analysis: Next downside target is at the 91.30 area
- DXY’s downside picks up pace below the 92.00 yardstick.
- There is an interim support at the 50-day SMA at 91.57.
The leg lower in DXY gathers extra steam after breaking below the 92.00 mark on quite a convincing fashion, exposing at the same a deeper pullback.
That said, the 50-day SMA near 91.60 should offer interim contention ahead of the more relevant support area around 91.30, where sit weekly lows recorded in mid-March.
Below the 200-day SMA (92.26) the outlook for DXY is expected to return to the bearish side.
DXY daily chart
