US Dollar Index Technical Analysis: Constructive view unchanged above the 200-day SMA, support line

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  • The index has managed to regain some composure following recent lows in the vicinity of the 97.00 handle.
  • DXY is now flirting with the 97.50/60 band, where are located the 10-day and 21-day SMAs. If cleared, the focus should return to last week’s tops beyond 98.00 the figure, considered the last defence for a visit to 2019 highs at 98.33 (April 26).
  • On the broader picture, the constructive bias should prevail while above the critical 200-day SMA at 96.32 and the +3-month support line at 96.43.

DXY daily chart

 

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