US Dollar Index Technical Analysis: The 200-day SMA near 96.60 returns to the radar

• The index managed to reverse yesterday’s small drop and is now looking to advance to the 96.30/40 band.
• If the buying impetus remains unchanged, DXY is likely to test the critical resistance area around 96.60, where converge the 200-day SMA and the multi-month resistance line.
• Above this key area, the outlook on the greenback stays constructive and should target the 98.00 region.

DXY daily chart