US Dollar Index Price Analysis: Leg lower could extend to 95.50

• DXY accelerates the downside and revisits 96.20.
• Extra losses should be contained around 95.50.

DXY adds to Thursday’s losses and drops to the 96.20 region, or 4-day lows, on Friday.

If the selling pressure gathers further traction, then the index is likely to face initial contention in the 95.50 region (November 18) ahead of the minor down barrier at the 20-day SMA at 95.26.

In the meantime, while above the 2-month support line (off September’s low) around 94.00, extra gains in DXY remain well on the table. In addition, the broader constructive stance remains underpinned by the 200-day SMA at 92.41.

DXY daily chart