US Dollar Index Price Analysis: Risks further losses below 93.30

• DXY’s pullback meets contention near 93.30 so far this week.
• A deeper pullback could see the 92.7 area retested.

DXY extended its leg lower at the beginning of the week, although sellers failed to drag the index further south of the 93.30 level.

That said, a breach of this level should put the key support area around 92.70 back on the radar in the short-term horizon ahead of a Fibo level at 91.92.

While below the 200-day SMA, today at 96.98, the negative view on the dollar is expected to prevail.

DXY daily chart