US Dollar Index Technical Analysis: Further downside now looks to the 100-day SMA at 96.94

• The selling pressure around the greenback stays unabated so far this week and has forced DXY to challenge the critical support at 97.00 the figure, exposing further pullbacks.
• Next on the way down emerges the 100-day SMA at 96.94. This should hold the initial test ahead of April’s low at 96.75.
• 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 96.48.

DXY daily chart