US Dollar Index Price Analysis: Downside seen as corrective only

• DXY corrects lower after hitting new monthly highs at 93.52.
• A move to 2021 high at 93.72 remains well on the cards.

DXY fades the earlier move to fresh September highs past the 93.50 level on Thursday.

Immediate hurdle now emerges at recent peaks above 92.50. The surpass of this area is forecast to sustain another visit to the 2021 tops above 93.70 (August 20). Further north from here should come the round level at 94.00 ahead of November 2020 high at 94.30.

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 91.47.

DXY daily chart