US Dollar Index Technical Analysis: The Greenback faces initial support at the 55-day SMA at 97.89

• DXY is extending the consolidative theme above the 98.00 handle following another interest rate cut at the FOMC meeting on Wednesday.
• The immediate bullish view stays uncompromised for the time being, sustained by the 55-day SMA at 97.89 and Friday’s low at 97.86 .
• If the recovery gathers traction, the index should then target last week’s peak at 99.10.

DXY daily chart