US DOLLAR INDEX PRICE ANALYSIS: PULLBACK COULD SEE 95.50 RETESTED
- DXY resumes the leg lower and breaks below 96.00.
- Next on the downside appears the 95.50 region.
DXY fades Monday’s decent bullish attempt and refocuses instead on the area well below 96.00 on Tuesday.
The next significant support comes at 95.51 (November 18), which is also reinforced by the 20-day SMA, today at 95.45.
In the meantime, while above the 2-month support line (off September’s low) near 94.10, extra gains in DXY remain well on the table. In addition, the broader constructive stance remains underpinned by the 200-day SMA at 92.47.
