US Dollar Index Price Analysis: Next on the downside is located 92.00

DXY remains on the defensive within the low-92.00s on Monday. Initial contention emerges within the 92.00 neighborhood. DXY continues to correct lower following Friday’s negative price action in spite of clinching fresh multi-month tops within the 92.75/80 zone. If the selling impulse gathers extra steam, then the index is predicted to satisfy initial albeit minor support at the 10-day SMA near 92.00 before the more relevant 91.50 regions. The latter is reinforced by the proximity of the 200-day SMA at 91.42. In the meantime, and searching at the broader scenario, the outlook for the dollar is seen as constructive while above the 200-day SMA.

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