US Dollar Index Technical Analysis: Near term support emerged in the 96.80 region, 55-day SMA

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  • The index is attempting a sideline theme so far this week in the lower bound of the recent range. Sellers, however, failed to push the buck further south of the 96.80 region, where is located the 55-day SMA.
  • Extra downside should face the next target at the 100-day SMA at 96.59.
  • In spite of the ongoing corrective decline, the positive stance on DXY remains underpinned by the critical 200-day SMA, today at 96.06.

DXY daily chart

 

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