US Dollar Index Price Analysis: Upside momentum could extend to 93.90

• DXY adds to recent gains above the 93.00 mark.
• Next target of relevance emerges at the 93.90 level.

DXY extends the upside and flirts with the key 6-month resistance line in the 93.30/40 band following the optimism observed in the first half of the week, all amidst increasing risk aversion among market participants.

If the buying impetus picks up extra pace, then the next hurdle of note is expected at the monthly peak at 93.90 (October 15) ahead of the interim resistance at the Fibo level at 94.20 and the 100-day SMA, today at 94.34.

While below the 200-day SMA, today at 96.66, the negative view on the dollar is expected to persist.

DXY daily chart