US Dollar Index has bounced off 89.70 mark as expected and discussed earlier. It has managed to reach 90.40 levels, and managed to take out initial resistance at 90.40/45 as seen on the chart here. The rally between 89.70 and 90.41 can be marked as lower degree Wave i, which could give way for a corrective drop towards 89.90/90.00 levels. After terminating potential Wave ii around 89.90/90.00 mark, the US Dollar Index might be ready to rally towards 91.60 and higher, as Wave iii unfolds.
Remain long against 89.20, towards 94.50 and further
Remain long against 89.20, towards 94.50 and further