US Dollar weaker, drops below 94.00

By FXStreet The selling pressure around the greenback is not giving up today, now dragging the US Dollar Index below the 94.00 support.

US Dollar in 8-month lows

The index has taken out October 2015 low at 93.83 and dropped near 93.70, printing fresh multi-month lows, albeit regaining some pips soon afterwards.

The bearish prospect for the US dollar, at least in the near-term, remains unchanged while market participants continue to adjust to the recently more dovish stance exposed by the Fed.

US Dollar relevant levels

The index is down 0.44% at 93.82 and a breakdown of 93.00 (psychological level) would expose 92.52 (monthly low Aug.24 2015). On the other hand, the next hurdle lines up at 95.19 (20-day sma) followed by 96.42 (high Mar.28) and finally 96.60 (55-day sma).
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Source:: FX Street