US Dollar Index Technical Analysis: Downside seen as corrective only. Constructive bias remain unchanged above 200-day SMA

• DXY is seen some recovery following Friday’s sharp pullback to fresh multi-day lows in the 97.60/50 band.
• The resumption of the upside traction should meet initial hurdle at the 10-day SMA at 97.88, coincident with a Fibo retracement of the 2017-2018 drop.
• Looking at the broader picture, the positive outlook on the buck remains intact while above the key 200-day SMA at 96.45 and the 8-month support line at 96.44.

DXY daily chart