US Dollar Index Price Analysis: Solid support emerges at 97.70

• DXY’s downside failed to break below the 97.70 region.
• Further recovery looks to regain 99.00 and above.

The index reclaims ground lost in the last couple of sessions and regains the area beyond 98.00 the figure on Thursday.

DXY manages well to rebound from the decent contention area in the 97.70 zone and the ongoing rebound is expected to target the 99.00 neighbourhood and above in the near term.

The current bullish stance in the index remains supported by the 6-month line near 96.20, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 94.83.