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

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

Pablo Piovano FXStreet

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

Dollar Index Spot

Overview
Today last price	96.85
Today Daily Change	38
Today Daily Change %	-0.32
Today daily open	97.16

Trends
Daily SMA20	97.02
Daily SMA50	98.48
Daily SMA100	98.85
Daily SMA200	98.36

Levels
Previous Daily High	97.64
Previous Daily Low	97.03
Previous Weekly High	97.72
Previous Weekly Low	96.38
Previous Monthly High	98.24
Previous Monthly Low	95.72
Daily Fibonacci 38.2%	97.26
Daily Fibonacci 61.8%	97.4
Daily Pivot Point S1	96.91
Daily Pivot Point S2	96.67
Daily Pivot Point S3	96.31
Daily Pivot Point R1	97.52
Daily Pivot Point R2	97.88
Daily Pivot Point R3	98.13

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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