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US Dollar Index Technical Analysis: Looks well underpinned by the support line at 97.48

  • After recording fresh tops near 98.40 on Friday, the index is now stabilizing around the 98.20 region.
  • Another visit to the 2019 highs just below the 99.00 barrier remains well on the cards as long as the short-term support line, today at 97.48, underpins.
  • Looking at the broader picture, while above the critical 200-day SMA, the outlook on DXY should stay constructive.

DXY daily chart

 

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