US Dollar Index Price Analysis: Positive stance unchanged above 200-day SMA

• DXY remains capped by the weekly highs near 101.00.
• Further upside stays on the cards while above 98.14.

DXY has come under selling pressure following Monday’s tops in the boundaries of 101.00 the figure and is now looking to stabilize in the 100.00 neighbourhood.

If sellers regain the upper hand, then the 55-day SMA at 98.88 should provide interim support ahead of the late-March lows near 98.30. This is considered the last defence for a test of the key 200-day SMA, today at 98.14.

On the broader picture, as long as the 200-day SMA holds the downside, the constructive outlook on the buck is expected to remain unchallenged.

DXY daily chart