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  • The index is prolonging the leg lower from last week and is trading in fresh multi-day lows in sub-98.00 levels.
  • The resumption of the upside bias should initially target the key 55-day SMA, today at 98.27 ahead of last week’s tops in the mid-98.00s.
  • If the selling impetus gathers traction, the next support is located at the 21-day SMA at 97.81 ahead of the critical 200-day SMA at 97.55. As long as this area holds, the constructive view on the buck is expected to remain unchanged.

DXY daily chart