Forex News

14:18:28 02-08-2021

US Dollar Index Price Analysis: Extra losses likely below 91.80

  • DXY fades Friday’s uptick and losses the 92.00 mark.
  • Initial support emerges around the 91.80 region, July lows.

DXY remains under pressure and resumes the downtrend below the key support at the 92.00 yardstick.

Further decline still appears on the cards in the current context, however. That said, a move below July’s lows near 91.80 (Friday 30) should open the door to a potential pullback to the 91.50 region (June 23 low). This contention zone is reinforced by the proximity of the 100- and 50-day SMAs and a Fibo level.

In the meantime, and looking at the broader scenario, the positive stance on the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.33.

DXY daily chart


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