US Dollar Index Technical Analysis: Immediate support emerges in the 97.20 area, 55-day SMA and support line

• DXY is attempting some consolidation in the mid-97.00s in line with the rest of the global assets, while the ‘flight-to-safety’ move appears somewhat tempered today.
• Immediately on the upside emerges the interim hurdle at the 97.87/92 band, where coincide a Fibo retracement and the 10-day SMA.
• In the near term, the 97.20/30 band should hold the downside. This important area of contention includes the 55-day and 100-day SMAs, recent lows and the immediate short-term support line (off June’s low).

DXY daily chart