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US Dollar Index Technical Analysis: Upside target remains at 97.70

  • The index looks bid near the 97.50 region.
  • The immediate target is now the 200-day SMA around 97.70.

The index has shrugged off Friday’s negative price action and it has now resumed the downside in the 97.50 region.

If the buying pressure persists, the next target of relevance comes at the critical 200-day SMA, today at 97.69 ahead of the Fibo retracement of the 2017-2018 drop at 97.87.

The bullish outlook in DXY is expected to return as long as it trades above the 200-day SMA.

DXY daily chart

 

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