US Dollar Index Technical Analysis: Rebound could surpass the 97.00 handle

• DXY recovers ground lost on Monday, although remains below 97.00.
• Recent tops in the 97.10 area could come back to the radar.

DXY is posting decent gains so far on Tuesday, managing to advance to the 96.70/75 band ahead of key US data.

In case the recovery gathers serious traction, the index is expected to visit recent tops beyond 97.00 the figure, with the next immediate target at the 200-day SMA, today at 97.68.

If sellers regain control, December’s low at 96.36 could be re-tested ahead of a potential visit to the 96.00 neighbourhood, where sits a Fibo retracement of the 2017-2018 drop.