US Dollar Index Price Analysis: Further decline stays on the table

• DXY closed below the key support at 95.00 on Wednesday.
• A deeper pullback exposes the YTD lows in the 94.65/60 band.

The sell-off in DXY has reached fresh 4-month lows in the 94.80/75 band earlier on Thursday, leaving the prospects of further losses intact in the near-term.

In fact, further downside is increasingly likely in the current context, allowing for a probable move and test of the yearly lows near 94.60 recorded in early March.

The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 98.14.

DXY daily chart