- The DXY loses momentum quickly and falls to lows in several days.
- The next significant support is around the 93.00 area.
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
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