US Dollar Index Technical Analysis: Rally is taking a breather. Next support at the 100-hour SMA at 96.98

• The greenback has started the week on a negative note and continues to fade the recent uptick to fresh 2-week highs above 97.30 last week.
• Further correction lower should meet initial contention at the 100-day SMA, today at 96.98.
• In addition, the psoitive outlook on spot remains unchanged while above the key 200-day SMA at 95.92. This area of support is reinforced by recent lows at 95.74.

DXY daily chart