US Dollar Index Technical Analysis: The greenback stays supported by the 200-day SMA at 96.71
- The sharp correction lower in the greenback sponsored by Powell and the FOMC minutes appears to have met contention in the 96.85./80 band, where sits the multi-month support line off September 2018 lows.
- If the selling impulse gathers traction, the critical 200-day SMA at 96.71 should offer extra contention. A move to this area could threaten the constructive view on the buck.
- In case bulls reverse the ongoing decline, interim resistance should come in at 97.59, monthly peaks so far ahead of June top at 97.80.

DXY daily chart

Author

Pablo Piovano
FXStreet
Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

















