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  • The greenback is trading within a sideline theme so far this week, coming under increasing selling pressure after surpassing the key 98.00 handle during last week.
  • Extra downside should meet initial support at weekly lows at 97.15. This area of contention appears reinforced by the 55-day SMA at 97.07.
  • In the meantime, the positive outlook is poised to prevail while above the critical 200-day SMA at 96.27.

DXY daily chart