US Dollar Index Price Analysis: DXY eases from triple tops below 93.00

• DXY retreats after two-day uptrend, refreshes intraday low of late.
• Pullback from key resistance, descending RSI line from overbought territory suggest portray short-term selling pressure.
• Nearby support line, key HMA confluence test bears, buyers need to cross 93.00 to refresh yearly top.

US dollar index (DXY) takes offers around 92.71, down 0.08% intraday, to refresh daily lows during early Wednesday.

In doing so, the greenback gauge steps back from an eight-day-old resistance line, forming a triple-top bearish formation, while marking the first daily loss in three days.

Given the RSI line’s U-turn from the overbought region, the latest profit-booking is likely to extend towards an immediate support line figure of 92.64. However, a convergence of the 100-HMA and 200-HMA around 92.40 will challenge the DXY bears afterward.

Should the US dollar index remain pressured below 92.40, the monthly low of the 92.00 round figure will be crucial to watch.

Meanwhile, the stated resistance line from July 02, around 92.83, will direct DXY bulls toward the 93.00 threshold on the way to refresh the yearly peak of 93.43 marked in January.

Overall, DXY consolidates recent gains but the uptrend remains intact.

DXY: Hourly chart

Trend: Further weakness expected