US Dollar Index Price Analysis: Rising odds for a test of 2020 lows near 91.70

• DXY’s downside momentum gathers traction and approaches 92.00.
• The 2020 low near 91.70 emerges as the next key support.

DXY intensifies the downside and trades already in 2-month lows in the 92.30 region, as the appetite for riskier assets remain well and sound in the global markets.

That said, the door is now open not only for the continuation of the downtrend, but also to a potential visit of the 2020 lows in the 91.75/70 band recorded on September 1. A probable win by Joe Biden at the US elections gives extra support to a weaker dollar in the longer run.

As long as DXY trades below the 200-day SMA, today at 96.51, the negative view is forecasted to persist.

DXY daily chart