US Dollar Index Technical Analysis: Immediate target remains at the 98.50 area
|- The upside momentum in DXY stays unchanged and eyes the 98.50 region.
- The 99.00 handle is expected to return to the radar once 98.50 is cleared.
DXY has been rejected from the vicinity of 98.50 on Wednesday, sparking the ongoing corrective downside.
If the dollar surpasses the key 98.50 zone, then the next significant hurdle lies at the 99.00 neighbourhood ahead of 99.25 (high October 8th).
Looking at the broader context, the positive view on DXY is expected to remain unchanged while above the 200-day SMA, today at 97.60.
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