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  • The sell off in the greenback seems to have met support in the 97.20/10 band on Wednesday.
  • If sellers keep pushing the index lower, the next relevant support is expected to emerge around the 97.00 handle, where is located the 55-day SMA.
  • Furthermore, the constructive outlook stays intact while above the key 200-day SMA at 96.19.

DXY daily chart