US Dollar Index Price Analysis: Important support emerges around 92.50

• DXY hovers around the 92.00 neighbourhood on Tuesday.
• Further downside could re-test the 92.50 area.

DXY trades in the lower end of the recent range near the key 93.00 yardstick on Tuesday.

The continuation of the corrective downside is expected to meet the next contention of note in weekly lows around 92.50 (August 13/16). This support zone is also reinforced by the proximity of the 50-day SMA (92.47).

In the meantime, and looking at the broader scenario, the positive stance on the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.31.

DXY daily chart