US Dollar Index Technical Analysis: Pullbacks seen faltering near the 200-day SMA at 96.80

• DXY came under renewed and moderate selling pressure on Wednesday, failing once again to advanced further north of 97.50.
• The leg lower, however, is expected to meet strong contention in the 96.80/88 band, where sit the 200-day SMA and the multi-month support line.
• If the selling impetus gathers pace, the June 17 low at 96.46 should return to the traders’ radar.

DXY daily chart