US Dollar Index Technical Analysis: A breach of the 200-day SMA near 97.60 should trigger extra losses
|- DXY remains under pressure although in the 97.60 region.
- The 200-day SMA is expected to hold the downside.
The index appears to have met solid contention around the critical 200-day SMA in the 97.60/65 band.
A breakdown of this zone should reassert the bearish bias and spark a deeper retracement to, initially, October/November lows in the 97.10 area.
Occasional bullish attempts should meet minor hurdle at the 100-day and 55-day SMAs, at 98.12 and 98.20, respectively.
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