US Dollar Index Technical Analysis: The near-term constructive view stays intact above 97.96

• DXY is struggling for direction in the 98.40 region, managing to rebound from Thursday’s lows near the 98.00 handle.
• A negative surprise at today’s US Payrolls could encourage sellers to return to the market and drive the buck lower to, initially, the short-term support line at 97.96. A breach of this level should allow for a deeper retracement to the 55-day SMA at 97.58.
• In the meantime, the bullish view is expected to persist while the support line, today at 97.96, underpins.

DXY daily chart