US Dollar Index Price Analysis: Further south lines up 92.70
- DXY extends the gradual decline to the 93.30/25 band.
- The next target on the downside emerges at 92.70.
DXY keeps the downside bias unaltered so far this week, always around the 55-day SMA in the 93.30 zones and with chances of shedding further ground in the very near-term.
A breach of this level should put the key support area around 92.70 back on the radar while occasional bullish attempts are expected to face initial hurdle above the 94.00 barriers, where converge a Fibo level and the 6-month resistance line.
While below the 200-day SMA, today at 96.93, the negative view on the dollar is expected to prevail.
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