US Dollar Index Technical Analysis: Remains depressed and could visit the 97.00 area
|- DXY broke below the 200-day SMA and accelerated the downside.
- The 97.00 area now emerges on the horizon.
The index remains under heavy downside pressure so far this week.
The recent breakdown of the key 200-day SMA in the 97.60/65 band has opened the door for a deeper retracement to, initially, October and November peaks in the low-97.00s ahead of 97.03 (August low).
Occasional bullish attempts should meet minor hurdle at the 98.13/18 band, where coincide the 100-day and 55-day SMAs.
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