US Dollar Index Price Analysis: A breach of 94.00 could expose 93.70

• DXY extends the decline and challenges the 94.00 mark.
• Next on the downside emerges 93.66 (September 9 top).

The bearish note in the greenback picks up pace in the first half of the week and forces DXY to put the 94.00 mark to the test.

A clear breakdown of the 94.00 neighbourhood could pave the way for a move to the September 9 peak near 93.70 ahead of the 55-day SMA, today at 93.55.

While below the 200-day SMA, today at 97.07, the outlook on the dollar is forecasted to remain negative.

DXY daily chart