US Dollar Index Technical Analysis: The surpass of the 200-day SMA should allow for extra gains

• The recent break above the critical 200-day SMA in the 97.40 region has shifted the outlook on the index back to positive.
• If this breakout becomes convincing, then the Greenback should target last week’s peaks at 98.00 ahead of the 55-day SMA at 98.28.
• While below the 200-day SMA, DXY should regain downside pressure and expose a move to monthly lows near 97.10.

DXY daily chart