US Dollar Index Losing Some Steam and Approaching 93.00

The US dollar index, which measures the strength of the greenback against a basket of currencies, started the week negatively from the major support level at 93.00. The index fell for the second session in a row on Monday, moving just above 93.00 in a somewhat risky environment.

At the moment, the index loses 0.15% at 93.13 and the next support at 92.70 (weekly low 10 Sep) then 91.92 (23.6% Fibonacci retracement of the 2017-2018 low) then 91.75 (2020 low on September 1). On the other hand, a break above 93.66 (monthly high Sep 9) would open doors to 93.99 (monthly high 3 Aug) and finally 94.20.