US Dollar Index Price Analysis: Correction lower could visit the 95.00 zone

DXY adds to the rejection from recent new cycle tops.
The 95.00 neighbourhood seen holding the downside.

Pablo Piovano FXStreet

DXY retreats for the second session in a row and returns to the sub-96.00 area on Thursday.

A deeper knee-jerk looks plausible in light of the recent strong advance. There is a temporary support at the 10-day SMA at 95.03 which reinforces the weekly low at 94.96 (November 15). This area is forecast to initially hold further bearish attempts in the near term.

Looking at the broader picture, the constructive stance on the index is seen intact above the 200-day SMA at 92.24.

DXY daily chart

Dollar Index Spot

Overview
Today last price	95.67
Today Daily Change	21
Today Daily Change %	-0.13
Today daily open	95.79

Trends
Daily SMA20	94.36
Daily SMA50	93.9
Daily SMA100	93.26
Daily SMA200	92.22

Levels
Previous Daily High	96.25
Previous Daily Low	95.73
Previous Weekly High	95.27
Previous Weekly Low	93.88
Previous Monthly High	94.56
Previous Monthly Low	93.28
Daily Fibonacci 38.2%	95.93
Daily Fibonacci 61.8%	96.05
Daily Pivot Point S1	95.6
Daily Pivot Point S2	95.4
Daily Pivot Point S3	95.08
Daily Pivot Point R1	96.12
Daily Pivot Point R2	96.44
Daily Pivot Point R3	96.64

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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