US Dollar Index Price Analysis: Gains remain capped by 94.00

• DXY extends the rejection from recent tops near 94.00.
• Another visit to the 93.50 area stays on the table.

The persevering selling pressure keeps DXY on the defensive for the second session in a row on Thursday.

If the index cannot clear recent tops around 94.00 in the near term, it could open the door to a deeper pullback in the next sessions. That said, the immediate target should be at the 93.50 region ahead of the 55-day SMA at 93.32.

Looking at the broader picture, the constructive stance on the index is seen unchanged above the 200-day SMA at 91.94.

DXY daily chart