US Dollar Index Technical Analysis: Scope for a test of the 200-day SMA at 96.69

• The greenback has sold off to the 96.80 region in the wake of the dovish message from Fed’s Powell and the FOMC minutes.
• Further south emerges the critical support at the 96.84/69 band, where coincide the multi-month support line and the critical 200-day SMA. A move to this area could threaten the constructive view on the buck.
• In case bulls regain some attitude, initial resistance should come in at 97.59, monthly peaks, ahead of June peak at 97.80.

DXY daily chart