US Dollar Index Price Analysis: Interim support emerges at 97.87

• DXY remains under heavy pressure and challenges 98.00.
• Rising bets for a potential move to the Fibo level at 97.87.

DXY came under further pressure and is now navigating t he area of multi-week lows in the 98.00 neighbourhood.

Sellers now look to have regained the upper hand and therefore the door is open to further weakness in the dollar in the near-term.

That said, there is increasing bets for a deeper pullback to, initially, the Fibo retracement of the 2017-2018 drop at 97.87.

DXY daily chart