US Dollar Index Price Analysis: Further losses likely below 95.70
|- DXY trades on the defensive below the 96.00 yardstick.
- A breach of 95.70 exposes a deeper retracement.
DXY bounces off recent lows in the vicinity of 95.75 and now looks to reclaim the key 96.00 barrier on Tuesday.
Further selling pressure should put the 95.70 region to the test, while a breach of this level exposes a potential drop to December’s low at 95.57 (December 31).
In the meantime, while above the 4-month support line (off September’s low) just above 95.00, further gains in DXY are likely. Looking at the broader picture, the longer-term positive stance remains unchanged above the 200-day SMA at 93.08.
DXY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.