US Dollar Index Price Analysis: A deeper pullback could see 93.00 retested

DXY remains on the defensive and gradually approaches 93.00.
A breach of 93.00 puts the 92.70 region back on the radar.

DXY navigates the area of multi-day lows in the 93.20/15 band on Tuesday, extending at the same time the recent failure at the 6-month resistance line.

A deeper pullback further south of the 93.00 neighbourhood is expected to pave the way for another visit to, initially, the mid-September lows in the 92.70 region.

While below the 200-day SMA, today at 96.80, the negative view on the dollar is expected to persist.

DXY daily chart

Oct 20, 2020

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