US Dollar Index Technical Analysis: Looks to the FOMC for a test of 99.00 and beyond

• The index has started the week on a choppy fashion and looks sidelined in the 98.30/40 band for the time being.
• Today’s FOMC event will be key for the near term price action in the Greenback. A positive surprise should prompt DXY to challenge the key barrier at 99.00 the figure ahead of last week’s top near 99.10.
• Looking at the broader picture, while above the critical 200-day SMA at 97.12, the constructive bias is expected to remain unaltered.

DXY daily chart