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

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

Pablo Piovano FXStreet

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

Dollar Index Spot

Overview
Today last price	95.91
Today Daily Change	38
Today Daily Change %	-0.33
Today daily open	96.23

Trends
Daily SMA20	97.04
Daily SMA50	97.94
Daily SMA100	98.62
Daily SMA200	98.25

Levels
Previous Daily High	96.7
Previous Daily Low	96.18
Previous Weekly High	97.18
Previous Weekly Low	96.23
Previous Monthly High	98.24
Previous Monthly Low	95.72
Daily Fibonacci 38.2%	96.38
Daily Fibonacci 61.8%	96.5
Daily Pivot Point S1	96.04
Daily Pivot Point S2	95.85
Daily Pivot Point S3	95.52
Daily Pivot Point R1	96.57
Daily Pivot Point R2	96.9
Daily Pivot Point R3	97.09

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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