US Dollar Index Price Analysis: Recovery could test highs near 97.60
- The index meets a formidable hurdle in the 97.60 region.
- The 200-day SMA near 97.70 remains the key hurdle.
The index managed to regain buying pressure on the back of positive US results in the second half of the week, rebounding at the same time from the 97.00 area, or weekly lows.
DXY has now re-shifted its focus to the critical 200-day SMA in the 97.70 region.
Above this area the downside pressure in the buck should alleviate.
DXY daily chart