US Dollar Index Price Analysis: Extra rangebound stays in the pipeline

• DXY’s upside remains capped around the 97.90 zone.
• On the downside, there is strong support near 95.70.

DXY regains some ground lost on Monday’s sell-off to the mid-96.00s, where decent contention turned up so far.

Looking at the broader picture, the consolidative range appears unchanged around the index, which is expected to navigate between 95.70 and 97.90 for the time being.

Furthermore, while below the critical 200-day SMA, today at 98.30, the outlook for the dollar is seen as negative.

DXY daily chart