US Dollar Index Technical Analysis: Testing support at the 200-hour SMA below 99.00

• DXY is extending its correction lower from YTD peaks near 99.70 and is currently putting the key support at 99.00 the figure to the test.
• Further downside is forecasted to meet the key support at the 55-day SMA at 98.23. This area is expected to hold the initial test.
• Above the 55-day SMA, the constructive bias on the buck should remain unchanged.

DXY daily chart