US Dollar Index Price Analysis: Gains remain capped by 96.43

• DXY extends Tuesday’s bearish move to the 95.80 region.
• Further consolidation seems the name of the game for DXY.

DXY adds to the recent weakness although it remains largely within the prevailing consolidation theme.

That said, occasional bullish attempts remain so far capped by last week’s top at 96.43 (February 14), while the 95.70 area is expected to hold the downside for the time being.

The short-term constructive stance remains supported by the 5-month line, today near 95.40, while the outlook for the dollar is seen as positive above the 200-day SMA at 93.82 in the longer run.

DXY daily chart