US Dollar Index Price Analysis: Potential re-test of the 95.70 region

• DXY extends the correction lower in the first half of the week.
• Next on the downside emerges the 95.70/75 band.

The rebound in DXY has lost momentum in the 97.50 region so far this week.

Further downside remains on the cards and carries the potential to re-visit the 3-month lows in the 95.70 region recorded on June 10.

While capped by the 200-day SMA at 98.41, further losses are seen probable in the dollar in the near-term.

DXY daily chart