US Dollar Index Price Analysis: Increasing bets for a drop to 95.71

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  • DXY remains under heavy pressure around the 96.00 yardstick.
  • A deeper pullback exposes June’s lows in the 95.70 region.

DXY has intensified the sell-off on Wednesday, breaking below the key support at the 96.00 mark and exposing further downside in the short-term horizon.

The ongoing price action opens the door to another visit to the June lows in the 95.70 zone (June 10) ahead of 2020 low at 94.65 recorded on March 9.

The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 98.22.

DXY daily chart

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