US Dollar Index Technical Analysis: Looks constructive above the 200-day SMA

• The index is looking to extend the recovery from recent lows in levels just above the key support at 97.00 the figure (Friday). The recent drop to the oversold area has also helped with the bounce.
• DXY is now flirting with the key 200-day SMA near 97.40. A breakout above this area on a convincing fashion is needed to reassert the upside pressure.
• In case sellers regain the upper hand, a potential move to the 97.00 neighbourhood (and probably) below should not be ruled out.

DXY daily chart