US Dollar Index Technical Analysis: Correction lower expected to meet contention near 97.90

• The index is giving away part of the recent sharp move to levels above the 98.00 handle during last week, fresh YTD highs.
• On the upside, the immediate target emerges in the mid-100.00s, where is located a Fibo retracement of the 2017-2018 drown move.
• If the selling impulse extends further, another Fibo retracement at 97.89 is expected to hold the initial test. On a broader view, the outlook on the buck remains positive above the critical 200-day SMA at 96.15.

DXY daily chart