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2 Feb 2022
US Dollar Index Price Analysis: Next on the downside aligns 95.41
- DXY breaks decisively below the key 96.00 support.
- Next on the downside comes a minor support at 95.41.
DXY adds to the weekly leg lower and clinches fresh lows in the 95.80 region on Wednesday.
The downside extends for the third session in a row and after breaking below the 96.00 yardstick it has now opened the door to a deeper pullback in the short-term horizon. That said, the index faces the next minor support at 95.41 (low January 20) ahead of the 100-day SMA, today at 95.13.
In the near term, the upside pressure remains intact while above the 4-month line around 95.00. Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.43.
DXY daily chart
