USD Index Price Analysis: A drop to 109.50 stays at the cards eight November 2022, 14:10

•DXY manages to bop off lows close to the 110.00 mark.
•Further south seems the October low close to 109.50.

DXY regains a few stability following an in advance drop to new lows withinside the 110.00 quarter on Tuesday.

Further weak point withinside the greenback have to now no longer be dominated out in spite of the modern rebound. That said, the index is predicted to stand preliminary competition on the October low at 109.53 (October 27) previous to the 9-month assist line simply under 109.00.

The latter seems strengthened via way of means of the proximity of the 100-day SMA. Above this region, the greenback’s short-time period stance have to continue to be positive.

In the longer run, DXY is predicted to keep its optimistic stance whilst above the 200-day SMA at 104.59.

DXY each day chart