DXY slides further below 93.00, hits fresh 3-week lows

• DXY headed toward lowest close since September. 
• Greenback remains under pressure in thin holiday markets. 
• US data shows mixed numbers. 

The US dollar continues to trade soft amid another low volume session. Markets remain in holiday mode while the greenback continues to slide. The US Dollar Index is falling for the second day in a row, after accelerating the move to the downside. 

Under 93.00

The DXY dropped to 92.63, the lowest intraday level since December 1. It was holding near the lows, headed toward the lowest close since September. 

The decline gained momentum today after breaking below 93.00 and bottomed after the beginning of the US session and following the release of US economic data. Initial jobless claims came in at 245K, above the 240K expected. The trade deficit rose to $69.68 billion, the highest since March 2015 (versus $67.7 billion). Later, the Chicago PMI climbed to 67.6, surpassing expectations and the best level in six years. Markets reaction to data was muted. 

DXY Technical levels 

The tone continues to favor the downside and at the moment is near November lows at 92.50/60. A break lower would open the doors for a slide toward the next support seen at 92.10 and 91.75 (Sep 22 low). On the upside, resistance might lie at 93.05,  93.20 and 93.50 (Dec 21 & 22 high).