US Dollar Index Price Analysis: A deeper pullback looks likely below 95.00

• DXY moves further south and clinches fresh lows near 95.10.
• Further down emerges the 5-month support line near 95.00.

DXY comes under extra downside pressure and approaches the 95.00 zone at the end of the week.

While the index flirts with the 100-day SMA at 95.18, a breach of this level should expose the 5-month support line around 95.00. The loss of the latter opens the taps for extra weakness to, initially, the 2022 lows near 94.60 (January 14).

In the near term, the 5-month line near 95.00 is expected to hold the downside for the time being. Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.48.

DXY daily chart