US Dollar Index Technical Analysis: Needs to break above the 200-day SMA to reassert the constructive outlook

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  • DXY remains under pressure despite the recent rebound from 2-month lows near the 97.00 neighbourhood.
  • The index needs to quickly leave behind the area around 97.40, where sits the key 200-day SMA, on a sustainable fashion to allow for extra gains.
  • In this case, the next target of significance should emerge at the 55-day SMA at 98.33 ahead of 99.25 (October 8th).

DXY daily chart

 

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