US Dollar Index Price Analysis: Downside seems contained

• DXY trades in 3-day lows near 92.30 on Friday.
• There is still scope for a move to 93.00 and above.

DXY adds to Thursday’s losses and extend the leg lower to the vicinity of 92.30 at the end of the week.

Despite the ongoing correction, the resumption of the previous uptrend remains in the pipeline in the short-term horizon. If DXY clears the so far monthly tops at 92.86, then the 93.00 barrier should start to emerge on the horizon ahead of the pre-Jackson Hole peak at 93.18.

In the meantime, and looking at the broader scenario, the constructive stance on the dollar is seen unchanged while bove the 200-day SMA, today at 91.36.

DXY daily chart