US Dollar Index Price Analysis: Next on the downside emerges 92.50

• DXY remains under pressure in the sub-93.00 area.
• The loss of lows near 92.80 should expose further decline.

DXY now looks to stabilize in the lower end of the weekly range below the 93.00 yardstick.

The dollar, in the meantime, remains confined to trade within a narrow range as cautiousness among traders stays on the rise ahead of the speech by Fed’s Powell at the Jackson Hole Symposium.

 A breach of 92.80 is expected to open the door to extra pullbacks to, initially, the July/August lows around 92.50. This support area is also reinforced by the proximity of the 55-day SMA (92.37).

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 91.32.

DXY daily chart