US Dollar Index Price Analysis: Room for a test of 89.20
- DXY accelerates the downside and breaches the 90.00 level.
- Next on the downside comes in the 2021 low at 89.20.
DXY intensifies the downside and clinches new multi-month lows in the 89.80/75 band on Tuesday.
A deeper retracement of the index now seems to gather extra pace and carries the potential to revisit the YTD low at 89.20 (January 6).
In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.81, the outlook for the buck is forecast to remain negative.