Home US Dollar Index Technical Analysis: The greenback appears well supported in the 97.80 area

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US Dollar Index Technical Analysis: The greenback appears well supported in the 97.80 area

FX Street

Published date: 5 Aug. 2019 | 10:27

The index keeps correcting lower on Monday, breaking below the key support at 98.00 the figure and meeting contention in the 97.90/85 band for the time being.
Immediately to the downside emerge June’s peaks around 97.80, which is expected to hold the downside in the short-term horizon. A breach of this area carries the potential to spark a deeper pullback.
As long as the critical 200-day SMA at 96.92 underpins, the constructive outlook in DXY is expected to remain unchanged.

DXY daily chart

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