US Dollar Index Technical Analysis: tied down beneath 97.50, but support found at 96.75

• The US Dollar remains constrained under intraday whips across the broader FX space, keeping the Greenback under wraps from yesterday's peak at 74.25

DXY Chart, 5-Minute

• Looking further out to the past two weeks, a major higher low is running out of time to mark in a floor for the Dollar index, and the 200-period moving average is threating to become a stiff resistance level which could prevent a further move up in the USD.

DXY Chart, 30-Minute

• While the DXY could be due for a bearish  correction, the overall trend remains firmly to the bull side, with the DXY's interim action getting choked out by a failed downside run at the 38.2% Fibo retracement level at 96.75,.

DXY Chart, 4-Hour