US Dollar Index Technical Analysis: weekly recovery looks limited around 98.50

• The index is prolonging the sideline theme in the upper bound of the weekly range despite Thursday pullback.
• The area in the mid-98.00s, or recent peaks, has emerged as quite a significant barrier for extra gains. This hurdle is also reinforced by the proximity of the key 55-day SMA, today at 98.29.
• In order to allow for extra gains, DXY needs to overcome this region in the near term. Immediately to the upside emerges the 99.00 neighbourhood ahead of 99.25 (October 8^th peak).

DXY daily chart