US DOLLAR INDEX PRICE ANALYSIS: NEXT ON THE DOWNSIDE IS LOCATED 92.00

• DXY remains on the defensive in the low-92.00s on Monday.
• Initial contention emerges in the 92.00 neighbourhood.

DXY continues to correct lower following Friday’s negative price action in spite of clinching fresh multi-month tops in the 92.75/80 zone.

If the selling impulse gathers extra steam, then the index is expected to meet initial albeit minor support at the 10-day SMA near 92.00 ahead of the more relevant 91.50 region. The latter is reinforced by the proximity of the 200-day SMA at 91.42.

In the meantime, and looking at the broader scenario, the outlook for the dollar is seen constructive while above the 200-day SMA.

DXY DAILY CHART