US Dollar Index Technical Analysis: Immediate target on the upside sits at 97.50

• The index has receded from recent tops in levels just shy of monthly highs beyond 97.50 (April 2).
• Upside momentum in DXY looks firm and is now targeting the 97.50/55 band, considered the last defence for a potential test of yearly peaks in the 97.70 region.
• Looking at the broader scenario, the positive stance in the buck is expected to persist as long as the critical 200-day SMA at 96.06 underpins.

DXY daily chart