US Dollar Index Price Analysis: Rising bets for further decline

• DXY extends the consolidation below 91.00 on Wednesday.
• A deeper pullback could see the 2020 lows re-visited.

The index navigates within a consolidative range below the key barrier at 91.00 the figure so far on Wednesday.

Occasional attempts to break above this theme are predicted to meet an interim resistance near 91.40, where sits the 9-month (resistance) line ahead of the Fibo level at 91.92. Above this region, the downside pressure is expected to mitigate somewhat.

In the meantime, as long as DXY trades below the 200-day SMA, today at 95.73, the negative view is forecast to prevail.

DXY daily chart