US Dollar Index Price Analysis: Downside could re-test 92.50

• DXY adds to Thursday’s losses below the key 93.00 barrier.
• The 92.50 region now emerges as a potential near-term support.

DXY keeps correcting lower after the recovery in the first half of the week faltered in the 93.30 region (November 11).

That said, a deeper retracement could be in the offing with the next area of relevance around 92.50, where coincide the October’s low (October 21) and the 6-month support line. A loss of this zone could motivate a leg lower to the monthly lows in the 92.15/10 band (November 9).

Further out, as long as DXY trades below the 200-day SMA, today at 96.37, the negative view is forecast to persist.

DXY daily chart