US Dollar Index Technical Analysis: Decline should falter around the 200-day SMA in the mid-96.00s
- The greenback continues to correct lower following the dovish message at the FOMC meeting on Wednesday.
- Further retracements should meet the next relevant support at the 200-day SMA and the multi-month support line in the mid-96.00s. This area of contention is reinforced by recent monthly lows in the 96.50/45 band.
- A resumption of the bullish stance should find initial target at the 97.36/43 band, where coincide the 21-day and 55-day SMAs.
DXY daily chart
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