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US Dollar Index Technical Analysis
The greenback could drop further and test the 97.00 neighbourhood
- DXY breached the 55-day SMA on Monday and accelerated the downside to print new 3-week lows.
- If the selling bias picks up pace, the next stop aligns at monthly lows at 97.03 May 13 ahead of the 100-day SMA at 96.94, .
- In the meantime, the constructive stance on the index is expected to remain unchanged above the key 200-day SMA at 96.45 and the 8-month support line at 96.46
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