US Dollar Index Price Analysis: Rising bets for a test of 98.80

• DXY remains under pressure, although supported by the 55-day SMA.
• Next on the downside emerges the 98.80 region.

The weekly leg lower in DXY has so far met decent contention in the 99.55/50 band. This area of support is also reinforced by the 55-day SMA, today at 99.31.

If the selling impetus gathers extra steam, then the next relevant support comes in near 98.80, or monthly lows.

In case sellers increase their presence, a test of the 200-day SMA, today at 98.33, should not be surprising in the short-term horizon.

DXY daily chart