US Dollar Index Price Analysis: Potential move to 96.40 near-term

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  • DXY is accelerating the correction lower to sub-97.00 levels.
  • Further south emerges the mid-June lows in the 96.40 region.

DXY is down for the fourth session in a row so far on Thursday on the back of the better mood in the risk appetite trends.

If the selling pressure gathers traction it is expected to expose the 96.40/35 band as the next interim support, area last seen in mid-June.

Looking at the broader picture, the bearish view is seen unhanged while below the 200-day SMA, today at 98.36.

DXY daily chart

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