US Dollar Index Price Analysis: The 95.50 area holds the downside for now
|- DXY struggles for direction at recent lows near 95.50.
- The loss of the mid-95.00s should open the door to extra losses.
DXY seems to have met some decent support in the area of YTD lows around 95.50 on Wednesday.
If sellers break below this level, they can push the index further south in the short-term. Against that, the next support of note emerges at the weekly low at 94.94 recorded on November 15.
In the meantime, while above the 4-month support line (off September’s low) near 95.10, further gains in DXY are likely. Looking at the broader picture, the longer-term positive stance remains unchanged above the 200-day SMA at 93.10.
DXY daily chart
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