US Dollar Index Price Analysis: Extra Downside Looks Likely

DXY fades Monday’s modest uptick and keeps hovering around the psychological support near 90.00 for the time being.

Dollar, Money, Cash Money, Business, Currency, Finances

Image Source: Pixabay

A decent breakdown of the 90.00 mark should allow for a move to the February’s low at 89.68. A deeper pullback is expected to put the YTD lows at 89.20 (January 6) back on the radar.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.88, the outlook for the buck is forecast to remain negative.

DXY daily chart

(Click on image to enlarge)

Dollar Index Spot


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