US Dollar Index Technical Analysis: Still constructive above the 200-day SMA near 96.50

• The index met strong contention in the 96.80/75 band so far, area coincident with yesterday’s low and April 12 low.
• The resumption of the upside bias should meet initial hurdle at the 55-day SMA at 97.44 ahead of the 97.53/64 band, where converge the 1-day and 21-day SMAs.
• Looking at the broader picture, the positive outlook on DXY remains unaltered above the key 200-day SMA and the 8-month support line around 96.50.

DXY daily chart