US Dollar Index Technical Analysis: Decent contention emerged at the 55-day SMA near 98.30

• DXY is looking to reverse at least part of the recent sharp sell off to the 98.30/20 band, coincident with the 55-day SMA.
• The continuation of the selling impetus carries the potential to spark a deeper pullback to the Fibo retracement of the 2017-2018 drop at 97.87 ahead of the 100-day SMA at 97.80.
• The resumption of the uptrend should initially visit the 21-day SMA at 98.78 ahead of last week’s top at 99.25.

DXY daily chart