US Dollar Index Technical Analysis: Initial resistance comes at/above the 97.00 handle

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  • DXY has managed to regain some shine and clinch the upper end of the weekly range near the 97.00 handle, although a break above this level on a sustainable way is needed to aim for higher ground.
  • On the downside, the mid-96.00s is expected to hold the downside. In this zone converge the key 200-day SMA and the multi-month support line.
  • Beyond 97.00, extra hurdles are seen at last week’s tops near 97.40 ahead of the 55-day SMA at 97.42.

DXY daily chart

 

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