US Dollar Index Price Analysis: The 90.00 Area Holds The Downside… For Now

Editor • Jun 9, 2021 at 7:59 AM EDT

DXY failed to extend the recent bullish attempt beyond 90.60. The leg lower could re-test the May lows in the mid-89.00s.

DXY extends the consolidative mood always around the key 90.00 neighbourhood on Wednesday.

Free stock photo of account, accountancy, accounting

Image Source: Pexels

If the selling impulse picks up extra pace, then a re-test of the 90.00 mark should emerge on the horizon in the near-term. A breach of it should open the door to a deeper retracement to the May’s low near 89.50.

On the upside, bullish attempts remain capped by the 90.50/60 band for the time being.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.58 the outlook for the buck is forecast to remain negative.

DXY daily chart

(Click on image to enlarge)

DOLLAR INDEX SPOT

Disclosure:

Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Comments

Back to all articles

DXY daily chart

DOLLAR INDEX SPOT

More from this Author

Forex Today: Australian Inflation Takes Centre Stage Alongside Geopolitics

US Dollar Index Hovers Around 99.00, Looks At Geopolitics

Rising Inflation And Slowing Growth Put ECB And BoE In A Bind