US Dollar Index Price Analysis: A test of 92.70 (and below) looks likely

• DXY resumes the downside below the 93.00 mark.
• Extra losses are forecasted if 92.70 is cleared.

The index is resuming the downside following Tuesday’s bullish attempt. DXY returns to the sub-93.00 area and opens the door to extra losses in the short-term.

The continuation of the downtrend should initially expose 92.70 (low September 10). A deeper pullback carries the potential to test a Fibo level at 91.92 ahead of the 2020 low at 91.75 (September 1).

The negative outlook in DXY is seen unchanged while below the 200-day SMA, today at 97.22.

DXY daily chart