US Dollar Index Price Analysis: Rising odds for a deeper pullback

• DXY stays under pressure for yet another session around the 98.00 mark.
• The door is now open for a potential move to the 97.30 area.

DXY is extending the leg lower and challenges the key support at 98.00 the figure at the beginning of the week.

Sellers remain in control and therefore further retracements stay well on the cards with the potential target at the 97.30 zone.

The outlook on the index is expected to be bearish while capped by the key 200-day SMA, today at 98.50.

DXY daily chart