US Dollar Index Price Analysis: Further pullbacks not ruled out yet

• DXY trades within a volatile fashion in the 93.80 area.
• Immediately to the downside comes the monthly low at 93.50.

DXY remains unable to gather some serious upside traction and stays mired in the 93.80 zone midweek.

In case the selling impulse gathers further steam, the monthly low at 93.50 (October 19) should hold the initial test ahead of the 55-day SMA at 93.21. Further downside could well see the 93.00 neighbourhood (low September 23) re-visited in the not-so-distant future. Further south comes the 100-day SMA, today at 92.61.

Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 91.84.

DXY daily chart