Categories: Markets

Next bearish target is at 93.00

DXY

After another failure of the tough six-month resistance line at the 93.80 / 90 band, the US Dollar Index (DXY) had a downward correction to the 93.20 region so far, to lows at six days.

A deeper pullback now threatens to drag the dollar into the recent support area in the 93.00 neighborhood. Lower lows emerge from mid-September in the region of 92.70.

If it continues below the 200-day SMA, today at 96.82, the negative view on the dollar is expected to persist.

DXY day chart

Credits: Forex Street